StockNews.com Downgrades A-Mark Precious Metals (NASDAQ:AMRK) to Sell

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

Separately, DA Davidson dropped their price objective on shares of A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. One research analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.33.

A-Mark Precious Metals Stock Down 0.6 %

AMRK stock opened at $30.25 on Wednesday. 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 company’s 50-day moving average price is $41.31 and its 200 day moving average price is $38.10. A-Mark Precious Metals has a 52 week low of $24.22 and a 52 week high of $47.39. The company has a market cap of $701.20 million, a P/E ratio of 12.87 and a beta of -0.01.

A-Mark Precious Metals (NASDAQ:AMRK) last released its quarterly earnings data on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.59). The business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.64 billion. A-Mark Precious Metals had a return on equity of 10.93% and a net margin of 0.57%. On average, research analysts expect that A-Mark Precious Metals will post 3.54 earnings per share for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th were given a dividend of $0.20 per share. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. A-Mark Precious Metals’s dividend payout ratio (DPR) is 34.04%.

Insider Transactions at A-Mark Precious Metals

In related news, Director Michael R. Wittmeyer sold 25,841 shares of A-Mark Precious Metals stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the transaction, the director now owns 292,535 shares in the company, valued at approximately $12,973,927.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 22,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now owns 28,202 shares of the company’s stock, valued at $1,281,498.88. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Michael R. Wittmeyer sold 25,841 shares of the business’s stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the transaction, the director now directly owns 292,535 shares in the company, valued at approximately $12,973,927.25. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 110,316 shares of company stock valued at $4,911,036 over the last 90 days. Corporate insiders own 48.64% of the company’s stock.

Institutional Investors Weigh In On A-Mark Precious Metals

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Quarry LP boosted its position in A-Mark Precious Metals by 94.1% in the 2nd quarter. Quarry LP now owns 1,112 shares of the company’s stock valued at $36,000 after buying an additional 539 shares during the last quarter. nVerses Capital LLC purchased a new position in A-Mark Precious Metals in the second quarter valued at about $45,000. Strategic Investment Solutions Inc. IL acquired a new stake in A-Mark Precious Metals during the 3rd quarter valued at approximately $88,000. Victory Capital Management Inc. purchased a new stake in A-Mark Precious Metals during the 3rd quarter worth approximately $226,000. Finally, Quantbot Technologies LP increased its holdings in A-Mark Precious Metals by 192.5% during the 1st quarter. Quantbot Technologies LP now owns 7,438 shares of the company’s stock worth $228,000 after purchasing an additional 4,895 shares during the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

About A-Mark Precious Metals

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.