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

A-Mark Precious Metals, Inc. (NASDAQ:AMRKGet Free Report) was the target of a large decrease in short interest in the month of March. As of March 15th, there was short interest totalling 3,020,000 shares, a decrease of 5.6% from the February 29th total of 3,200,000 shares. Based on an average daily trading volume, of 237,800 shares, the short-interest ratio is presently 12.7 days.

A-Mark Precious Metals Stock Up 2.1 %

Shares of A-Mark Precious Metals stock opened at $30.69 on Monday. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 0.32. The company has a 50-day moving average of $27.29 and a 200 day moving average of $28.31. The firm has a market cap of $701.27 million and a price-to-earnings ratio of 6.80. A-Mark Precious Metals has a 1 year low of $23.14 and a 1 year high of $42.11.

A-Mark Precious Metals (NASDAQ:AMRKGet Free Report) last issued its quarterly earnings results on Tuesday, February 6th. The company reported $0.90 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.23 by ($0.33). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.25 billion. A-Mark Precious Metals had a return on equity of 26.90% and a net margin of 1.10%. As a group, sell-side analysts anticipate that A-Mark Precious Metals will post 4.33 earnings per share for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, January 29th. Investors of record on Tuesday, January 16th were paid a $0.20 dividend. The ex-dividend date was Friday, January 12th. This represents a $0.80 annualized dividend and a dividend yield of 2.61%. A-Mark Precious Metals’s payout ratio is 17.74%.

Insider Buying and Selling at A-Mark Precious Metals

In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 8,696 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $25.30, for a total transaction of $220,008.80. Following the completion of the sale, the chief executive officer now owns 28,202 shares of the company’s stock, valued at approximately $713,510.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 8,696 shares of the stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $25.30, for a total transaction of $220,008.80. Following the completion of the sale, the chief executive officer now owns 28,202 shares of the company’s stock, valued at approximately $713,510.60. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Michael R. Wittmeyer sold 22,558 shares of the firm’s stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $26.29, for a total transaction of $593,049.82. Following the completion of the sale, the director now directly owns 408,225 shares of the company’s stock, valued at $10,732,235.25. The disclosure for this sale can be found here. Insiders sold 53,637 shares of company stock valued at $1,396,360 in the last quarter. Company insiders own 23.20% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AMRK. Wellington Management Group LLP purchased a new position in A-Mark Precious Metals in the first quarter worth about $19,975,000. State Street Corp raised its holdings in A-Mark Precious Metals by 115.0% in the second quarter. State Street Corp now owns 358,999 shares of the company’s stock worth $11,578,000 after buying an additional 192,046 shares during the last quarter. Renaissance Technologies LLC raised its holdings in A-Mark Precious Metals by 156.4% in the second quarter. Renaissance Technologies LLC now owns 308,384 shares of the company’s stock worth $9,945,000 after buying an additional 188,092 shares during the last quarter. Goldman Sachs Group Inc. raised its holdings in A-Mark Precious Metals by 41.1% in the second quarter. Goldman Sachs Group Inc. now owns 541,611 shares of the company’s stock worth $20,275,000 after buying an additional 157,750 shares during the last quarter. Finally, American Century Companies Inc. raised its holdings in A-Mark Precious Metals by 9.8% in the third quarter. American Century Companies Inc. now owns 1,684,735 shares of the company’s stock worth $49,413,000 after buying an additional 150,343 shares during the last quarter. 75.25% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

AMRK has been the subject of several research analyst reports. B. Riley dropped their target price on shares of A-Mark Precious Metals from $41.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. StockNews.com raised shares of A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research report on Monday, February 12th. Finally, DA Davidson reaffirmed a “buy” rating and issued a $42.00 target price on shares of A-Mark Precious Metals in a research report on Monday, March 4th.

Get Our Latest Stock Report on AMRK

About A-Mark Precious Metals

(Get Free Report)

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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