A-Mark Precious Metals (NASDAQ:AMRK) Lowered to “Sell” Rating by StockNews.com

StockNews.com cut shares of A-Mark Precious Metals (NASDAQ:AMRK) from a hold rating to a sell rating in a report issued on Wednesday morning.

Separately, DA Davidson cut their price target on shares of A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating on the stock in a report on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat.com, A-Mark Precious Metals currently has an average rating of “Hold” and a consensus target price of $46.33.

A-Mark Precious Metals Stock Down 2.2 %

Shares of NASDAQ AMRK opened at $28.90 on Wednesday. The firm’s 50-day moving average price is $40.83 and its 200-day moving average price is $37.98. The company has a current ratio of 1.66, a quick ratio of 0.39 and a debt-to-equity ratio of 0.51. The stock has a market capitalization of $669.90 million, a price-to-earnings ratio of 12.30 and a beta of -0.01. A-Mark Precious Metals has a 12-month low of $24.22 and a 12-month high of $47.39.

A-Mark Precious Metals (NASDAQ:AMRK) last announced its earnings results 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 business had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.64 billion. A-Mark Precious Metals had a net margin of 0.57% and a return on equity of 10.93%. On average, equities research analysts anticipate that A-Mark Precious Metals will post 3.54 EPS for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th were paid a $0.20 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.77%. A-Mark Precious Metals’s dividend payout ratio is currently 34.04%.

Insiders Place Their Bets

In related news, Director Jess M. Ravich sold 14,500 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $45.68, for a total transaction of $662,360.00. Following the completion of the sale, the director now owns 190,500 shares of the company’s stock, valued at $8,702,040. This represents a 7.07 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Michael R. Wittmeyer sold 10,975 shares of the 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 sale, the director now directly owns 292,535 shares of the company’s stock, valued at $12,666,765.50. The trade was a 3.62 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 110,316 shares of company stock worth $4,911,036 in the last three months. Corporate insiders own 48.64% of the company’s stock.

Institutional Investors Weigh In On A-Mark Precious Metals

A number of hedge funds and other institutional investors have recently bought and sold shares of AMRK. Quarry LP lifted its position in A-Mark Precious Metals by 94.1% during the second quarter. Quarry LP now owns 1,112 shares of the company’s stock valued at $36,000 after acquiring an additional 539 shares during the last quarter. nVerses Capital LLC purchased a new stake in A-Mark Precious Metals during the second quarter valued at approximately $45,000. Strategic Investment Solutions Inc. IL purchased a new stake in A-Mark Precious Metals during the third quarter valued at approximately $88,000. Victory Capital Management Inc. purchased a new stake in A-Mark Precious Metals during the third quarter valued at approximately $226,000. Finally, Quantbot Technologies LP raised its holdings in shares of A-Mark Precious Metals by 192.5% in the first quarter. Quantbot Technologies LP now owns 7,438 shares of the company’s stock worth $228,000 after buying an additional 4,895 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

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.