A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Down After Analyst Downgrade

Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) gapped down before the market opened on Thursday after DA Davidson lowered their price target on the stock from $52.00 to $43.00. The stock had previously closed at $37.63, but opened at $33.45. DA Davidson currently has a buy rating on the stock. A-Mark Precious Metals shares last traded at $35.62, with a volume of 134,069 shares trading hands.

Separately, StockNews.com raised A-Mark Precious Metals from a “sell” rating to a “hold” rating in a report on Tuesday. Four investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to data from MarketBeat, A-Mark Precious Metals currently has a consensus rating of “Hold” and an average target price of $46.33.

Insider Activity

In related news, Director Michael R. Wittmeyer sold 10,975 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $43.30, for a total transaction of $475,217.50. Following the completion of the sale, the director now directly owns 292,535 shares of the company’s stock, valued at $12,666,765.50. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, Director Michael R. Wittmeyer sold 10,975 shares of A-Mark Precious Metals stock in a transaction on Friday, September 20th. The stock was sold at an average price of $43.30, for a total transaction of $475,217.50. Following the completion of the sale, the director now directly owns 292,535 shares of the company’s stock, valued at $12,666,765.50. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Gregory N. Roberts sold 22,000 shares of the stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.44, for a total value of $999,680.00. Following the completion of the transaction, the chief executive officer now directly owns 28,202 shares in the company, valued at $1,281,498.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 110,316 shares of company stock valued at $4,911,036. 48.64% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Intech Investment Management LLC acquired a new stake in A-Mark Precious Metals during the 3rd quarter worth $251,000. Advisors Asset Management Inc. acquired a new stake in shares of A-Mark Precious Metals during the third quarter worth about $356,000. Quest Partners LLC raised its position in shares of A-Mark Precious Metals by 748,300.0% during the third quarter. Quest Partners LLC now owns 7,484 shares of the company’s stock worth $330,000 after purchasing an additional 7,483 shares during the period. Empowered Funds LLC lifted its holdings in shares of A-Mark Precious Metals by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,858 shares of the company’s stock valued at $744,000 after purchasing an additional 804 shares in the last quarter. Finally, Bard Associates Inc. grew its position in shares of A-Mark Precious Metals by 0.4% in the 3rd quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock valued at $4,125,000 after purchasing an additional 396 shares during the period. Institutional investors own 75.25% of the company’s stock.

A-Mark Precious Metals Trading Down 0.0 %

The company has a current ratio of 1.63, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm has a market capitalization of $731.71 million, a P/E ratio of 11.48 and a beta of -0.01. The business has a 50 day moving average of $41.65 and a 200-day moving average of $38.21.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.59). The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.64 billion. A-Mark Precious Metals had a return on equity of 13.28% and a net margin of 0.68%. Analysts anticipate that A-Mark Precious Metals, Inc. will post 4.29 EPS for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th were issued a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.53%. A-Mark Precious Metals’s dividend payout ratio (DPR) is 29.09%.

A-Mark Precious Metals Company Profile

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins.