In a recent transaction, an insider of Amrep Corp. (NYSE:AXR), a company specializing in land development, has purchased additional shares of the company's stock. The transactions, which took place over two days, saw the insider acquiring shares at prices ranging from $18.60 to $19.80.
The insider, who is identified as a ten percent owner, bought 7 shares at $18.60 each and 100 shares at $19.79 each on one day, followed by an additional purchase of 107 shares at $19.80 each on the subsequent day. The total value of the shares purchased across these transactions amounted to over $4,000.
The transactions were disclosed in a Form 4 filing with the Securities and Exchange Commission, which provides transparency into the trading activities of company insiders. Following these purchases, the insider now directly holds 398,642 shares of Amrep Corp. stock.
Investors often monitor insider transactions as they can provide insights into how the company's leadership views the stock's value and prospects. The recent purchases by the Amrep Corp. insider may signal confidence in the company's future performance.
Amrep Corp. has a diverse portfolio in real estate and construction, and the insider's increased stake could be seen as a positive sign for the company. However, it is important for investors to consider a range of factors when evaluating their investment decisions.
InvestingPro Insights
Amrep Corp. (NYSE:AXR) has recently drawn attention with insider transactions that indicate a potential confidence in the company's trajectory. In light of these developments, a look at the company's real-time data and InvestingPro Tips can provide investors with additional context to these insider moves.
InvestingPro Tips highlight that Amrep Corp. holds more cash than debt on its balance sheet, which is often a sign of financial stability and may be a factor in the insider's decision to increase their holdings. Additionally, the company has seen a significant return over the last week, with a 10.05% price total return, which could suggest a positive market reaction to recent company developments or broader industry trends.
When it comes to InvestingPro Data, Amrep Corp. boasts a market capitalization of 107.7 million USD, which reflects the current market value of its outstanding shares. The P/E ratio, a measure of the company's current share price relative to its per-share earnings, stands at 48.81, while the adjusted P/E ratio for the last twelve months as of Q3 2024 is notably lower at 16.26. This lower adjusted P/E ratio may indicate that the company is undervalued based on its earnings over the past year. Moreover, the company's strong return over the past five years is indicative of its long-term performance potential, which could be another factor influencing insider buying behavior.
In addition to these insights, there are 10 more InvestingPro Tips available for Amrep Corp. that can provide investors with a deeper analysis of the company's financial health and stock potential. For those interested in accessing these insights, visit https://www.investing.com/pro/AXR and use the coupon code PRONEWS24 to get up to 10% off a yearly Pro and a yearly or biyearly Pro+ subscription.
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