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

by · The Markets Daily

StockNews.com downgraded shares of A-Mark Precious Metals (NASDAQ:AMRK – Free Report) from a hold rating to a sell rating in a research report sent to investors on Monday morning.

Several other analysts have also recently issued reports on AMRK. DA Davidson upped their price objective on A-Mark Precious Metals from $42.00 to $47.00 and gave the company a buy rating in a research note on Thursday, September 5th. Maxim Group began coverage on shares of A-Mark Precious Metals in a report on Wednesday, May 22nd. They issued a buy rating and a $63.00 price objective for the company. One investment analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of Hold and a consensus target price of $47.67.

Check Out Our Latest Stock Analysis on AMRK

A-Mark Precious Metals Trading Up 0.4 %

NASDAQ AMRK opened at $43.43 on Monday. The company’s fifty day moving average price is $38.24 and its two-hundred day moving average price is $35.94. The company has a market capitalization of $992.59 million, a price-to-earnings ratio of 13.32 and a beta of -0.05. A-Mark Precious Metals has a 12 month low of $23.14 and a 12 month high of $47.39. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.76 and a quick ratio of 0.34.

A-Mark Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Shareholders of record on Thursday, July 18th were given a $0.20 dividend. The ex-dividend date was Thursday, July 18th. This represents a $0.80 annualized dividend and a yield of 1.84%. A-Mark Precious Metals’s dividend payout ratio (DPR) is 24.54%.

Insider Buying and Selling

In related news, CFO Kathleen Taylor-Simpson sold 25,000 shares of A-Mark Precious Metals stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $43.98, for a total value of $1,099,500.00. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other news, Director Michael R. Wittmeyer sold 25,841 shares of A-Mark Precious Metals 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 owns 292,535 shares in the company, valued at $12,973,927.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Kathleen Taylor-Simpson sold 25,000 shares of the stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $43.98, for a total value of $1,099,500.00. The disclosure for this sale can be found here. Insiders have sold 87,341 shares of company stock worth $3,907,588 in the last three months. 23.20% of the stock is currently owned by insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of large investors have recently made changes to their positions in AMRK. Sanctuary Advisors LLC purchased a new position in A-Mark Precious Metals during the second quarter valued at approximately $308,000. B. Riley Wealth Advisors Inc. grew its holdings in shares of A-Mark Precious Metals by 123.6% during the 2nd quarter. B. Riley Wealth Advisors Inc. now owns 93,100 shares of the company’s stock valued at $3,014,000 after acquiring an additional 51,460 shares in the last quarter. Quarry LP raised its holdings in shares of A-Mark Precious Metals by 94.1% during the 2nd quarter. Quarry LP now owns 1,112 shares of the company’s stock valued at $36,000 after purchasing an additional 539 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in A-Mark Precious Metals during the second quarter valued at approximately $5,702,000. Finally, Dark Forest Capital Management LP bought a new position in A-Mark Precious Metals in the 2nd quarter worth $414,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

About A-Mark Precious Metals

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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.

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