In a recent transaction, James H. Dahl, a significant shareholder in Amrep Corp. (NYSE:AXR), has expanded his investment in the company through the purchase of additional shares. The transaction, dated March 26, 2024, involved the acquisition of 2,500 shares at a price of $21.43 each, amounting to a total investment of $53,575.
This latest purchase increases Dahl's direct ownership in the company to a total of 348,865 shares. Additionally, the filing also disclosed indirect holdings through IRA accounts and trusts, asserting Dahl's substantial interest in the company. Notably, the IRA accounts include 204,151 shares in a Roth Conversion Account and 25,000 shares in another IRA Account. The Dahl Family Foundation, Inc. holds 94,120 shares, and Rainey E. Lancaster, who is part of a group with Dahl as per Section 13(d) of the Exchange Act, holds 173,750 shares directly.
The transaction underscores the ongoing financial commitments of insiders within Amrep Corp., indicating a potential vote of confidence in the company's future prospects. Investors often monitor insider buying as it can signal executives' and large shareholders' perspectives on the company's valuation and outlook.
Amrep Corp., with a standard industrial classification in land subdividers and developers, operates out of Havertown, Pennsylvania. The company's shares are traded on the New York Stock Exchange under the ticker symbol NYSE:AXR.
InvestingPro Insights
Following the recent insider purchase by James H. Dahl, Amrep Corp. (NYSE:AXR) continues to demonstrate characteristics that may intrigue investors. According to InvestingPro, the company is trading at a low revenue valuation multiple, which may indicate that its current stock price does not fully reflect its revenue-generating potential. Furthermore, Amrep Corp. is currently trading near its 52-week high, with the price at 95.44% of this peak, suggesting a strong market sentiment towards the company's stock.
InvestingPro Data highlights a market capitalization of $120.12 million, underscoring the company's presence within its industry segment. Despite a decrease in revenue growth over the last twelve months, with a -25.15% change, the quarterly revenue growth shows a substantial increase of 39.18%, indicating potential for recovery and growth in the recent quarter. Additionally, the company holds a P/E ratio of 53.99, which is adjusted to 18.73 for the last twelve months as of Q3 2024, reflecting how the market is valuing its earnings.
With PRONEWS24, investors can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription to access further insights. There are currently 11 additional InvestingPro Tips available for Amrep Corp., including the company's liquidity position and its profitability over the last twelve months, which could provide a more comprehensive understanding of its financial health and performance.
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