Insider Selling: AMREP Co. (NYSE:AXR) Director Sells 13,000 Shares of Stock

AMREP Co. (NYSE:AXR) Director Robert Robotti sold 13,000 shares of the company’s stock in a transaction on 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 sale, the director now owns 296,594 shares in the company, valued at $9,360,506.64. This represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink.

Robert Robotti also recently made the following trade(s):

• On Wednesday, December 18th, Robert Robotti sold 201 shares of AMREP stock. The shares were sold at an average price of $31.75, for a total transaction of $6,381.75.

AMREP Stock Performance

Shares of AXR opened at $31.41 on Wednesday. AMREP Co. has a fifty-two week low of $15.88 and a fifty-two week high of $39.67. The company has a market capitalization of $166.06 million, a PE ratio of 17.85 and a beta of 0.92. The stock has a fifty day moving average of $32.98 and a two-hundred day moving average of $26.54.

AMREP (NYSE:AXR) last released its earnings results on Friday, December 13th. The business services provider reported $0.75 earnings per share for the quarter. AMREP had a return on equity of 8.05% and a net margin of 15.64%.

Institutional Investors Weigh In On AMREP

Several hedge funds have recently modified their holdings of the stock. BNP Paribas Financial Markets acquired a new position in AMREP during the third quarter worth approximately $29,000. State Street Corp purchased a new stake in shares of AMREP during the 3rd quarter valued at $216,000. Geode Capital Management LLC increased its holdings in shares of AMREP by 5.4% during the 3rd quarter. Geode Capital Management LLC now owns 30,825 shares of the business services provider’s stock worth $915,000 after buying an additional 1,589 shares during the last quarter. Empowered Funds LLC raised its position in shares of AMREP by 5.3% in the 3rd quarter. Empowered Funds LLC now owns 42,796 shares of the business services provider’s stock worth $1,271,000 after buying an additional 2,144 shares during the period. Finally, Renaissance Technologies LLC boosted 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 during the last quarter. 59.85% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

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.