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

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) saw a large decline in short interest during 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 short-interest ratio is currently 8.4 days.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

In related news, CEO Gregory N. Roberts sold 22,000 shares of the business’s stock in a transaction 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 directly owns 28,202 shares of the company’s stock, valued at $1,281,498.88. The trade was 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 at this hyperlink. In other A-Mark Precious Metals news, Director Michael R. Wittmeyer sold 10,975 shares of the company’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.30, for a total transaction of $475,217.50. Following the transaction, the director now directly owns 292,535 shares in the company, valued at approximately $12,666,765.50. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory N. Roberts sold 22,000 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 28,202 shares in the company, valued at $1,281,498.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 110,316 shares of company stock valued at $4,911,036 in the last ninety days. Insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the stock. B. Riley Wealth Advisors Inc. grew its stake in shares of A-Mark Precious Metals by 164.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 109,960 shares of the company’s stock worth $3,326,000 after purchasing an additional 68,320 shares in the last quarter. Allspring Global Investments Holdings LLC grew its stake in shares of A-Mark Precious Metals by 34.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 201,108 shares of the company’s stock valued at $6,172,000 after buying an additional 51,531 shares in the last quarter. BNP Paribas Financial Markets lifted its stake in A-Mark Precious Metals by 99.6% in the first quarter. BNP Paribas Financial Markets now owns 34,118 shares of the company’s stock valued at $1,047,000 after acquiring an additional 17,023 shares during the last quarter. Pullen Investment Management LLC acquired a new stake in A-Mark Precious Metals in the first quarter valued at approximately $694,000. Finally, GSA Capital Partners LLP acquired a new stake in A-Mark Precious Metals in the first quarter valued at approximately $712,000. 75.25% of the stock is currently owned by institutional investors.

A-Mark Precious Metals Stock Down 0.3 %

A-Mark Precious Metals stock traded down $0.13 during midday trading on Monday, hitting $41.80. 29,373 shares of the company were exchanged, compared to its average volume of 362,414. The company has a market cap of $955.34 million, a PE ratio of 12.86 and a beta of -0.04. The company’s fifty day moving average price is $40.24 and its 200-day moving average price is $37.75. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.63 and a quick ratio of 0.39. A-Mark Precious Metals has a fifty-two week low of $23.14 and a fifty-two week high of $47.39.

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

A-Mark Precious Metals Announces Dividend

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

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.