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

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) was the recipient of a large decrease in short interest in the month of November. As of November 15th, there was short interest totalling 2,240,000 shares, a decrease of 19.1% from the October 31st total of 2,770,000 shares. Based on an average daily volume of 344,000 shares, the short-interest ratio is presently 6.5 days.

Insider Buying and Selling

In other news, 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 sale, the director now directly owns 292,535 shares in the company, valued at $12,666,765.50. This trade represents a 3.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Jess M. Ravich sold 14,500 shares of the stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.68, for a total transaction of $662,360.00. Following the transaction, the director now owns 190,500 shares of the company’s stock, valued at $8,702,040. The trade was a 7.07 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 110,316 shares of company stock valued at $4,911,036. Company insiders own 48.64% of the company’s stock.

Hedge Funds Weigh In On A-Mark Precious Metals

Several large investors have recently bought and sold shares of the company. Hobbs Group Advisors LLC bought a new stake in shares of A-Mark Precious Metals during the third quarter worth about $26,000. Quarry LP lifted its holdings in A-Mark Precious Metals by 94.1% during the 2nd quarter. Quarry LP now owns 1,112 shares of the company’s stock worth $36,000 after buying an additional 539 shares during the period. nVerses Capital LLC bought a new position in A-Mark Precious Metals during the second quarter worth $45,000. Strategic Investment Solutions Inc. IL bought a new stake in A-Mark Precious Metals in the third quarter valued at $88,000. Finally, Victory Capital Management Inc. acquired a new position in A-Mark Precious Metals during the 3rd quarter worth approximately $226,000. 75.25% of the stock is currently owned by institutional investors.

A-Mark Precious Metals Trading Down 0.6 %

Shares of A-Mark Precious Metals stock opened at $30.30 on Monday. The firm’s 50 day moving average is $37.68 and its 200 day moving average is $37.20. The firm has a market capitalization of $702.35 million, a PE ratio of 12.89 and a beta of -0.01. A-Mark Precious Metals has a 1 year low of $24.22 and a 1 year high of $47.39. The company has a current ratio of 1.66, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51.

A-Mark Precious Metals (NASDAQ:AMRK) last announced its quarterly earnings results on Thursday, August 29th. The company reported $0.85 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.44 by ($0.59). A-Mark Precious Metals had a return on equity of 10.93% and a net margin of 0.57%. The company had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.64 billion. Equities research analysts forecast that A-Mark Precious Metals will post 3.54 earnings per share for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th were issued a $0.20 dividend. The ex-dividend date was Tuesday, October 8th. This represents a $0.80 dividend on an annualized basis and a yield of 2.64%. A-Mark Precious Metals’s payout ratio is presently 34.04%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on AMRK shares. DA Davidson reduced their price target on A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating for the company in a research note on Thursday, November 7th. StockNews.com downgraded shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, A-Mark Precious Metals has an average rating of “Hold” and a consensus target price of $46.33.

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.