Millennium Management LLC Cuts Stock Position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Millennium Management LLC cut its stake in A-Mark Precious Metals, Inc. (NASDAQ:AMRK) by 9.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 287,848 shares of the company’s stock after selling 28,517 shares during the quarter. Millennium Management LLC owned approximately 1.24% of A-Mark Precious Metals worth $7,887,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Coppell Advisory Solutions LLC boosted its holdings in shares of A-Mark Precious Metals by 72.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,917 shares of the company’s stock worth $53,000 after purchasing an additional 806 shares during the last quarter. Farther Finance Advisors LLC grew its position in A-Mark Precious Metals by 446.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,252 shares of the company’s stock valued at $62,000 after acquiring an additional 1,840 shares in the last quarter. Ancora Advisors LLC increased its stake in A-Mark Precious Metals by 2,013.1% during the 4th quarter. Ancora Advisors LLC now owns 7,121 shares of the company’s stock worth $195,000 after buying an additional 6,784 shares during the period. KLP Kapitalforvaltning AS purchased a new stake in shares of A-Mark Precious Metals during the fourth quarter worth $200,000. Finally, SG Americas Securities LLC raised its position in A-Mark Precious Metals by 14.5% in the 4th quarter. SG Americas Securities LLC now owns 7,511 shares of the company’s stock valued at $206,000 after purchasing an additional 949 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on AMRK shares. B. Riley reduced their price objective on shares of A-Mark Precious Metals from $37.00 to $34.00 and set a “neutral” rating on the stock in a report on Tuesday, April 29th. Northland Securities lowered their price objective on shares of A-Mark Precious Metals from $40.00 to $36.00 and set a “market perform” rating on the stock in a research report on Friday, February 7th. DA Davidson dropped their target price on A-Mark Precious Metals from $35.00 to $29.00 and set a “buy” rating on the stock in a report on Thursday, May 8th. Finally, Wall Street Zen raised shares of A-Mark Precious Metals from a “sell” rating to a “hold” rating in a report on Saturday, May 17th.

A-Mark Precious Metals Price Performance

Shares of NASDAQ:AMRK opened at $20.14 on Tuesday. The business’s 50 day simple moving average is $23.59 and its 200-day simple moving average is $26.48. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.58 and a quick ratio of 0.31. The firm has a market capitalization of $495.95 million, a price-to-earnings ratio of 9.82 and a beta of 0.32. A-Mark Precious Metals, Inc. has a 12 month low of $19.60 and a 12 month high of $47.39.

A-Mark Precious Metals (NASDAQ:AMRK) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.24 EPS for the quarter, missing the consensus estimate of $0.78 by ($0.54). The business had revenue of $3.01 billion during the quarter, compared to analyst estimates of $2.66 billion. A-Mark Precious Metals had a net margin of 0.46% and a return on equity of 9.29%. As a group, equities analysts forecast that A-Mark Precious Metals, Inc. will post 2.11 earnings per share for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 29th. Stockholders of record on Tuesday, April 15th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.97%. A-Mark Precious Metals’s dividend payout ratio (DPR) is presently 54.05%.

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.