AlphaCentric Advisors LLC Makes New Investment in AMREP Co. (NYSE:AXR)

AlphaCentric Advisors LLC purchased a new stake in AMREP Co. (NYSE:AXR) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 22,899 shares of the business services provider’s stock, valued at approximately $719,000. AlphaCentric Advisors LLC owned 0.43% of AMREP at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in AXR. BNP Paribas Financial Markets bought a new stake in AMREP during the third quarter valued at $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. Cerity Partners LLC boosted its position in shares of AMREP by 137.2% during the 3rd 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 last quarter. JPMorgan Chase & Co. grew its holdings in shares of AMREP by 26,700.0% during the third quarter. JPMorgan Chase & Co. now owns 1,876 shares of the business services provider’s stock worth $56,000 after purchasing an additional 1,869 shares in the last quarter. Finally, State Street Corp purchased a new position in shares of AMREP during the third quarter worth about $216,000. 59.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

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

AMREP Stock Performance

AMREP stock opened at $29.82 on Monday. AMREP Co. has a fifty-two week low of $15.88 and a fifty-two week high of $39.67. The stock has a market cap of $157.75 million, a P/E ratio of 12.97 and a beta of 0.95. The firm’s fifty day moving average price is $31.30 and its 200-day moving average price is $29.38.

AMREP (NYSE:AXR) last released its quarterly 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 10.31% and a net margin of 19.52%.

Insider Activity at AMREP

In other AMREP news, Director Robert Robotti sold 13,000 shares of the 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 $9,360,506.64. This trade represents a 4.20 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 37.60% of the stock is currently owned by insiders.

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.