A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Sees Significant Decline in Short Interest

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) was the recipient of a large decline in short interest in the month of September. As of September 30th, there was short interest totalling 2,920,000 shares, a decline of 18.0% from the September 15th total of 3,560,000 shares. Based on an average daily trading volume, of 345,600 shares, the days-to-cover ratio is currently 8.4 days.

Insider Buying and Selling at A-Mark Precious Metals

In other A-Mark Precious Metals news, 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 transaction of $999,680.00. Following the sale, the chief executive officer now owns 28,202 shares of the company’s stock, valued at $1,281,498.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other A-Mark Precious Metals news, Director Jess M. Ravich sold 14,500 shares of the firm’s 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 sale, the director now directly owns 190,500 shares in the company, valued at approximately $8,702,040. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Gregory N. Roberts sold 22,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $45.44, for a total transaction of $999,680.00. Following the sale, the chief executive officer now owns 28,202 shares in the company, valued at $1,281,498.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 110,316 shares of company stock valued at $4,911,036 in the last 90 days. 23.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AMRK. Driehaus Capital Management LLC acquired a new stake in shares of A-Mark Precious Metals during the second quarter worth $5,702,000. B. Riley Wealth Advisors Inc. lifted its holdings in shares of A-Mark Precious Metals by 164.1% during the fourth quarter. B. Riley Wealth Advisors Inc. now owns 109,960 shares of the company’s stock worth $3,326,000 after buying an additional 68,320 shares in the last quarter. Evergreen Capital Management LLC lifted its holdings in shares of A-Mark Precious Metals by 359.3% during the second quarter. Evergreen Capital Management LLC now owns 82,093 shares of the company’s stock worth $2,657,000 after buying an additional 64,221 shares in the last quarter. CMC Financial Group acquired a new stake in shares of A-Mark Precious Metals during the second quarter worth $1,812,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of A-Mark Precious Metals by 34.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 201,108 shares of the company’s stock worth $6,172,000 after buying an additional 51,531 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on AMRK shares. StockNews.com downgraded shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a report on Wednesday, October 2nd. DA Davidson raised their target price on shares of A-Mark Precious Metals from $47.00 to $52.00 and gave the company a “buy” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $49.33.

A-Mark Precious Metals Stock Down 0.3 %

Shares of NASDAQ:AMRK traded down $0.13 during midday trading on Monday, hitting $41.80. The stock had a trading volume of 29,373 shares, compared to its average volume of 362,414. A-Mark Precious Metals has a 12 month low of $23.14 and a 12 month high of $47.39. The company has a quick ratio of 0.39, a current ratio of 1.63 and a debt-to-equity ratio of 0.38. The business’s 50-day simple moving average is $40.24 and its 200-day simple moving average is $37.75. The company has a market cap of $955.34 million, a P/E ratio of 12.86 and a beta of -0.04.

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 analysts’ consensus estimates of $1.44 by ($0.59). A-Mark Precious Metals had a return on equity of 13.28% and a net margin of 0.68%. The company had revenue of $2.52 billion for the quarter, compared to the consensus estimate of $2.64 billion. On average, sell-side analysts forecast that A-Mark Precious Metals will post 4.29 earnings per share for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th will be given a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.80 dividend on an annualized basis and a yield of 1.91%. A-Mark Precious Metals’s dividend payout ratio (DPR) is 24.54%.

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.