A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Get Rating) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totalling 581,400 shares, an increase of 29.0% from the August 31st total of 450,800 shares. Based on an average daily volume of 211,300 shares, the days-to-cover ratio is presently 2.8 days.
Institutional Investors Weigh In On A-Mark Precious Metals
A number of institutional investors have recently made changes to their positions in the company. Philadelphia Financial Management of San Francisco LLC grew its holdings in shares of A-Mark Precious Metals by 171.0% during the second quarter. Philadelphia Financial Management of San Francisco LLC now owns 749,303 shares of the company’s stock valued at $24,165,000 after buying an additional 472,807 shares during the last quarter. Jacobs Asset Management LLC lifted its position in A-Mark Precious Metals by 111.8% during the second quarter. Jacobs Asset Management LLC now owns 540,000 shares of the company’s stock valued at $17,415,000 after purchasing an additional 285,000 shares during the period. American Century Companies Inc. lifted its position in A-Mark Precious Metals by 6.0% during the first quarter. American Century Companies Inc. now owns 524,554 shares of the company’s stock valued at $40,569,000 after purchasing an additional 29,889 shares during the period. Vanguard Group Inc. lifted its position in A-Mark Precious Metals by 0.8% during the first quarter. Vanguard Group Inc. now owns 436,093 shares of the company’s stock valued at $33,727,000 after purchasing an additional 3,507 shares during the period. Finally, CWA Asset Management Group LLC lifted its position in A-Mark Precious Metals by 99.9% during the second quarter. CWA Asset Management Group LLC now owns 379,043 shares of the company’s stock valued at $12,224,000 after purchasing an additional 189,438 shares during the period. Hedge funds and other institutional investors own 59.78% of the company’s stock.
Wall Street Analysts Forecast Growth
Separately, DA Davidson upped their price objective on shares of A-Mark Precious Metals from $52.00 to $57.00 in a report on Thursday, September 22nd.
A-Mark Precious Metals Trading Up 0.9 %
NASDAQ:AMRK opened at $28.32 on Friday. The company’s 50 day moving average price is $30.85 and its 200-day moving average price is $33.78. A-Mark Precious Metals has a 52 week low of $23.71 and a 52 week high of $44.60. The company has a quick ratio of 0.53, a current ratio of 1.41 and a debt-to-equity ratio of 0.19. The stock has a market cap of $662.21 million, a price-to-earnings ratio of 5.15 and a beta of -0.31.
A-Mark Precious Metals Dividend Announcement
The company also recently declared a dividend, which was paid on Monday, September 26th. Stockholders of record on Monday, September 12th were issued a dividend of $1.00 per share. This represents a dividend yield of 3.57%. The ex-dividend date was Friday, September 9th.
A-Mark Precious Metals Company Profile
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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