AMREP (NYSE:AXR) Stock Price Passes Above 200-Day Moving Average – Should You Sell?

AMREP Co. (NYSE:AXR) shares crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $28.20 and traded as high as $34.00. AMREP shares last traded at $32.81, with a volume of 13,536 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com lowered shares of AMREP from a “buy” rating to a “hold” rating in a report on Thursday, December 12th.

AMREP Price Performance

The stock has a 50 day moving average price of $33.24 and a 200-day moving average price of $28.29. The stock has a market capitalization of $159.76 million, a price-to-earnings ratio of 13.13 and a beta of 0.96.

AMREP (NYSE:AXR) last posted its earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share (EPS) for the quarter. AMREP had a return on equity of 10.31% and a net margin of 19.52%.

Insider Buying and Selling

In other news, Director Robert Robotti sold 13,000 shares of the stock in a transaction dated Friday, December 20th. The shares were sold at an average price of $31.56, for a total value of $410,280.00. Following the completion of the transaction, the director now owns 296,594 shares in the company, valued at $9,360,506.64. This trade represents a 4.20 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 37.60% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of the business. Renaissance Technologies LLC raised its holdings in AMREP by 2.1% in the second quarter. Renaissance Technologies LLC now owns 123,514 shares of the business services provider’s stock valued at $2,336,000 after acquiring an additional 2,514 shares in the last quarter. Empowered Funds LLC boosted its position in AMREP by 5.3% during the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after acquiring an additional 2,144 shares during the period. Cerity Partners LLC increased its stake in shares of AMREP by 137.2% during the third quarter. Cerity Partners LLC now owns 269,287 shares of the business services provider’s stock valued at $7,995,000 after acquiring an additional 155,755 shares during the period. BNP Paribas Financial Markets acquired a new position in shares of AMREP in the 3rd quarter worth approximately $29,000. Finally, State Street Corp acquired a new stake in shares of AMREP during the third quarter worth $216,000. 59.85% of the stock is currently owned by institutional investors and hedge funds.

About AMREP

AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. The company operates through two segments, Land Development and Homebuilding. It sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. In addition, the company owns mineral interests covering an area of approximately 55,000 surface acres of land in Sandoval County, New Mexico; and owns oil, gas, and minerals and mineral interests covering an area of approximately 147 surface acres of land in Brighton, Colorado.