AMREP Co. (NYSE:AXR) Short Interest Up 5.2% in January

AMREP Co. (NYSE:AXR) saw a significant growth in short interest in the month of January. As of January 15th, there was short interest totalling 22,300 shares, a growth of 5.2% from the December 31st total of 21,200 shares. Approximately 1.0% of the shares of the company are short sold. Based on an average trading volume of 25,500 shares, the short-interest ratio is presently 0.9 days.

Insider Buying and Selling at AMREP

In other news, Director Robert Robotti sold 13,000 shares of the company’s stock in a transaction that occurred on Friday, December 20th. The shares were sold at an average price of $31.56, for a total transaction of $410,280.00. Following the transaction, the director now directly owns 296,594 shares in the company, valued at approximately $9,360,506.64. This represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 37.60% of the company’s stock.

Hedge Funds Weigh In On AMREP

A number of hedge funds have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in AMREP in the third quarter valued at about $29,000. Geode Capital Management LLC raised its holdings in shares of AMREP by 5.4% in the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock valued at $915,000 after acquiring an additional 1,589 shares in the last quarter. JPMorgan Chase & Co. grew its position in AMREP by 26,700.0% in the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after acquiring an additional 1,869 shares in the last quarter. Empowered Funds LLC raised its stake in shares of AMREP by 5.0% during the fourth quarter. Empowered Funds LLC now owns 44,937 shares of the business services provider’s stock worth $1,411,000 after acquiring an additional 2,141 shares in the last quarter. Finally, State Street Corp bought a new stake in shares of AMREP in the 3rd quarter valued at about $216,000. 59.85% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com cut AMREP from a “buy” rating to a “hold” rating in a research note on Thursday, December 12th.

AMREP Trading Down 0.7 %

Shares of NYSE AXR opened at $30.14 on Tuesday. The firm has a market cap of $159.44 million, a P/E ratio of 13.10 and a beta of 0.95. AMREP has a 1-year low of $15.88 and a 1-year high of $39.67. The business’s 50 day moving average is $32.50 and its 200-day moving average is $28.86.

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

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.