Insider Selling: A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Director Sells 10,975 Shares of Stock

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Director Michael R. Wittmeyer sold 10,975 shares of A-Mark Precious Metals stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $43.30, for a total value of $475,217.50. Following the completion of the sale, the director now directly owns 292,535 shares in the company, valued at approximately $12,666,765.50. The sale was disclosed in a legal filing with the SEC, which is available at this link.

A-Mark Precious Metals Price Performance

AMRK stock opened at $43.54 on Thursday. The company has a market cap of $999.24 million, a price-to-earnings ratio of 13.36 and a beta of -0.05. The company has a current ratio of 1.63, a quick ratio of 0.39 and a debt-to-equity ratio of 0.38. The firm has a 50 day moving average of $38.77 and a 200-day moving average of $36.42. A-Mark Precious Metals, Inc. has a 12-month low of $23.14 and a 12-month high of $47.39.

A-Mark Precious Metals (NASDAQ:AMRK) last posted its earnings results 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 firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.64 billion. As a group, equities analysts expect that A-Mark Precious Metals, Inc. will post 4.29 EPS for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th will be issued a dividend of $0.20 per share. The ex-dividend date is Tuesday, October 8th. This represents a $0.80 annualized dividend and a yield of 1.84%. A-Mark Precious Metals’s dividend payout ratio (DPR) is currently 24.54%.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMRK. StockNews.com upgraded A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research note on Tuesday. DA Davidson boosted their target price on shares of A-Mark Precious Metals from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Thursday, September 5th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $47.67.

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. Sanctuary Advisors LLC purchased a new position in shares of A-Mark Precious Metals during the 2nd quarter worth approximately $308,000. B. Riley Wealth Advisors Inc. grew its holdings in 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 buying an additional 51,460 shares during the last quarter. Quarry LP increased 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 worth $36,000 after buying an additional 539 shares in the last quarter. Driehaus Capital Management LLC acquired a new position in shares of A-Mark Precious Metals in the second quarter worth $5,702,000. Finally, Dark Forest Capital Management LP purchased a new stake in shares of A-Mark Precious Metals in the second quarter valued at $414,000. Institutional investors and hedge funds 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.