AMREP Co. (NYSE:AXR – Get Rating) was the recipient of a large growth in short interest during the month of December. As of December 30th, there was short interest totalling 17,700 shares, a growth of 7.9% from the December 15th total of 16,400 shares. Approximately 0.6% of the shares of the company are short sold. Based on an average daily trading volume, of 7,500 shares, the short-interest ratio is presently 2.4 days.
Institutional Trading of AMREP
A hedge fund recently raised its stake in AMREP stock. Royal Bank of Canada boosted its holdings in AMREP Co. (NYSE:AXR – Get Rating) by 11.1% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 9,000 shares of the business services provider’s stock after acquiring an additional 900 shares during the quarter. Royal Bank of Canada owned 0.17% of AMREP worth $102,000 at the end of the most recent reporting period. 26.42% of the stock is owned by institutional investors and hedge funds.
AMREP Stock Performance
Shares of AXR opened at $12.39 on Monday. The stock’s 50-day simple moving average is $11.66 and its 200 day simple moving average is $12.28. The stock has a market capitalization of $65.11 million, a price-to-earnings ratio of 4.82 and a beta of 0.94. AMREP has a 52-week low of $9.88 and a 52-week high of $16.72.
Analyst Ratings Changes
Separately, StockNews.com initiated coverage on AMREP in a research report on Monday. They set a “buy” rating on the stock.
AMREP Corp. engages in the real estate businesses. It focuses on the entitlement, development and sale of land for residential, commercial, and industrial uses. The firm operates through the following segments: Land Development, Homebuilding, and Corporate. The company was founded in 1961 and is headquartered in Havertown, PA.
- Get a free copy of the StockNews.com research report on AMREP (AXR)
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