Rhumbline Advisers Cuts Holdings in A-Mark Precious Metals, Inc. $AMRK

Rhumbline Advisers reduced its position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK) by 6.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 27,927 shares of the company’s stock after selling 1,887 shares during the quarter. Rhumbline Advisers owned about 0.11% of A-Mark Precious Metals worth $708,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also made changes to their positions in the company. New York State Teachers Retirement System purchased a new position in shares of A-Mark Precious Metals in the 1st quarter worth $41,000. CWM LLC increased its holdings in A-Mark Precious Metals by 1,192.3% in the 1st quarter. CWM LLC now owns 2,184 shares of the company’s stock valued at $55,000 after purchasing an additional 2,015 shares in the last quarter. NBC Securities Inc. acquired a new stake in A-Mark Precious Metals in the 1st quarter valued at $70,000. AlphaQuest LLC increased its holdings in A-Mark Precious Metals by 556,900.0% in the 1st quarter. AlphaQuest LLC now owns 5,570 shares of the company’s stock valued at $141,000 after purchasing an additional 5,569 shares in the last quarter. Finally, GAMMA Investing LLC increased its holdings in A-Mark Precious Metals by 11,170.5% in the 1st quarter. GAMMA Investing LLC now owns 6,875 shares of the company’s stock valued at $174,000 after purchasing an additional 6,814 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Roth Capital upgraded A-Mark Precious Metals to a “strong-buy” rating in a report on Wednesday, September 10th. DA Davidson reiterated a “buy” rating and issued a $29.00 price target on shares of A-Mark Precious Metals in a report on Wednesday, September 10th. Finally, Zacks Research upgraded A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating in a report on Thursday, September 11th. Two analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Buy” and an average price target of $33.00.

A-Mark Precious Metals Stock Performance

Shares of NASDAQ AMRK opened at $26.83 on Monday. The company has a quick ratio of 0.42, a current ratio of 1.56 and a debt-to-equity ratio of 0.50. The firm’s 50-day moving average price is $23.35 and its two-hundred day moving average price is $23.30. A-Mark Precious Metals, Inc. has a 52-week low of $19.39 and a 52-week high of $46.31. The stock has a market capitalization of $661.09 million, a P/E ratio of 38.88 and a beta of 0.16.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its earnings results on Tuesday, September 9th. The company reported $0.76 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.57 by $0.19. A-Mark Precious Metals had a net margin of 0.16% and a return on equity of 7.77%. The firm had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.91 billion. During the same quarter last year, the company posted $0.76 earnings per share. As a group, sell-side analysts forecast that A-Mark Precious Metals, Inc. will post 2.11 earnings per share for the current year.

A-Mark Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 18th were issued a $0.20 dividend. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 dividend on an annualized basis and a yield of 3.0%. A-Mark Precious Metals’s dividend payout ratio (DPR) is currently 115.94%.

Insider Transactions at A-Mark Precious Metals

In other A-Mark Precious Metals news, Director Moorhead John sold 2,600 shares of the firm’s stock in a transaction dated Monday, September 15th. The shares were sold at an average price of $26.97, for a total value of $70,122.00. Following the transaction, the director owned 32,974 shares of the company’s stock, valued at $889,308.78. This trade represents a 7.31% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 48.64% of the stock is owned by corporate insiders.

A-Mark Precious Metals Company Profile

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.