Short Interest in A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Decreases By 35.1%

A-Mark Precious Metals, Inc. (NASDAQ:AMRKGet Rating) saw a significant decline in short interest during the month of July. As of July 15th, there was short interest totalling 572,800 shares, a decline of 35.1% from the June 30th total of 882,400 shares. Based on an average daily volume of 235,600 shares, the short-interest ratio is presently 2.4 days.

A-Mark Precious Metals Price Performance

Shares of AMRK stock opened at $30.30 on Friday. A-Mark Precious Metals has a one year low of $22.50 and a one year high of $44.60. The company has a debt-to-equity ratio of 0.21, a current ratio of 1.43 and a quick ratio of 0.46. The firm has a 50 day moving average of $32.14. The company has a market capitalization of $697.75 million, a PE ratio of 5.00 and a beta of -0.30.

A-Mark Precious Metals (NASDAQ:AMRKGet Rating) last issued its quarterly earnings results on Thursday, May 5th. The company reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.97 by $1.26. A-Mark Precious Metals had a return on equity of 41.21% and a net margin of 1.77%. The firm had revenue of $2.11 billion for the quarter, compared to analyst estimates of $2.05 billion. During the same period in the previous year, the firm earned $4.42 earnings per share. As a group, research analysts expect that A-Mark Precious Metals will post 5.18 earnings per share for the current year.

Analyst Ratings Changes

Separately, Northland Securities upped their target price on A-Mark Precious Metals from $55.00 to $60.00 and gave the company an “outperform” rating in a report on Wednesday, May 25th. One analyst has rated the stock with a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat, A-Mark Precious Metals currently has an average rating of “Moderate Buy” and a consensus target price of $46.83.

Insider Transactions at A-Mark Precious Metals

In other news, Director Michael R. Wittmeyer sold 28,963 shares of the business’s stock in a transaction dated Friday, May 27th. The stock was sold at an average price of $77.63, for a total transaction of $2,248,397.69. Following the sale, the director now directly owns 294,824 shares in the company, valued at $22,887,187.12. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Michael R. Wittmeyer sold 1,835 shares of the company’s stock in a transaction that occurred on Tuesday, May 31st. The stock was sold at an average price of $77.51, for a total value of $142,230.85. Following the sale, the director now directly owns 292,989 shares in the company, valued at $22,709,577.39. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Michael R. Wittmeyer sold 28,963 shares of the company’s stock in a transaction that occurred on Friday, May 27th. The shares were sold at an average price of $77.63, for a total value of $2,248,397.69. Following the completion of the sale, the director now owns 294,824 shares in the company, valued at $22,887,187.12. The disclosure for this sale can be found here. Over the last three months, insiders have sold 100,410 shares of company stock worth $6,637,352. Insiders own 25.60% of the company’s stock.

Hedge Funds Weigh In On A-Mark Precious Metals

Several institutional investors have recently added to or reduced their stakes in AMRK. Wellington Management Group LLP acquired a new position in A-Mark Precious Metals in the first quarter valued at approximately $19,975,000. CWA Asset Management Group LLC lifted its stake in A-Mark Precious Metals by 99.9% in the second quarter. CWA Asset Management Group LLC now owns 379,043 shares of the company’s stock valued at $12,224,000 after buying an additional 189,438 shares during the period. Wedbush Securities Inc. raised its position in shares of A-Mark Precious Metals by 102.9% during the second quarter. Wedbush Securities Inc. now owns 205,160 shares of the company’s stock worth $6,616,000 after purchasing an additional 104,035 shares during the period. American Century Companies Inc. raised its position in shares of A-Mark Precious Metals by 21.9% during the fourth quarter. American Century Companies Inc. now owns 494,665 shares of the company’s stock worth $30,224,000 after purchasing an additional 88,776 shares during the period. Finally, G2 Investment Partners Management LLC acquired a new position in shares of A-Mark Precious Metals during the first quarter worth approximately $6,357,000. 43.08% of the stock is owned by institutional investors and hedge funds.

About A-Mark Precious Metals

(Get Rating)

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in 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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