AMREP Co. (NYSE:AXR – Get Rating) was the recipient of a large growth in short interest in the month of May. As of May 15th, there was short interest totalling 26,200 shares, a growth of 69.0% from the April 30th total of 15,500 shares. Based on an average trading volume of 11,700 shares, the short-interest ratio is presently 2.2 days. Approximately 0.5% of the shares of the company are short sold.
Shares of AXR stock traded up $0.55 during mid-day trading on Friday, reaching $12.53. The stock had a trading volume of 816 shares, compared to its average volume of 15,206. The stock’s 50-day moving average price is $12.39 and its two-hundred day moving average price is $13.32. AMREP has a 52-week low of $9.88 and a 52-week high of $18.80. The firm has a market capitalization of $91.92 million, a PE ratio of 9.64 and a beta of 0.78.
AMREP (NYSE:AXR – Get Rating) last announced its earnings results on Thursday, March 10th. The business services provider reported $0.12 earnings per share for the quarter. AMREP had a net margin of 17.69% and a return on equity of 10.60%. The firm had revenue of $9.82 million for the quarter.
In other news, major shareholder Nick G. Karabots sold 102,000 shares of the firm’s stock in a transaction on Monday, March 28th. The shares were sold at an average price of $10.45, for a total transaction of $1,065,900.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Edward B. Cloues II acquired 2,500 shares of the stock in a transaction dated Tuesday, April 19th. The shares were bought at an average price of $12.53 per share, for a total transaction of $31,325.00. Following the transaction, the director now owns 23,865 shares in the company, valued at approximately $299,028.45. The disclosure for this purchase can be found here. 26.20% of the stock is owned by corporate insiders.
An institutional investor recently raised its position in AMREP stock. BlackRock Inc. grew its position in AMREP Co. (NYSE:AXR – Get Rating) by 113.7% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 15,372 shares of the business services provider’s stock after buying an additional 8,178 shares during the period. BlackRock Inc. owned approximately 0.21% of AMREP worth $241,000 as of its most recent SEC filing. 35.52% of the stock is currently owned by institutional investors.
About AMREP (Get Rating)
AMREP Corporation, through its subsidiaries, primarily engages in the real estate business. It operates through two segments, Land Development and Homebuilding. The company sells developed and undeveloped lots to homebuilders, commercial and industrial property developers, and others. As of July 1, 2021, it owned approximately 18,000 acres in Rio Rancho, New Mexico.
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