B. Riley Wealth Advisors Inc. acquired a new position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Free Report) during the third quarter, HoldingsChannel reports. The institutional investor acquired 41,640 shares of the company’s stock, valued at approximately $1,221,000.
A number of other large investors have also added to or reduced their stakes in the company. Bank of New York Mellon Corp increased its position in shares of A-Mark Precious Metals by 2.1% during the 1st quarter. Bank of New York Mellon Corp now owns 54,841 shares of the company’s stock valued at $4,242,000 after purchasing an additional 1,148 shares during the last quarter. Group One Trading L.P. bought a new position in shares of A-Mark Precious Metals during the 1st quarter valued at approximately $621,000. MetLife Investment Management LLC increased its position in shares of A-Mark Precious Metals by 58.5% during the 1st quarter. MetLife Investment Management LLC now owns 5,273 shares of the company’s stock valued at $408,000 after purchasing an additional 1,946 shares during the last quarter. Rhumbline Advisers increased its position in shares of A-Mark Precious Metals by 14.9% during the 1st quarter. Rhumbline Advisers now owns 11,591 shares of the company’s stock valued at $896,000 after purchasing an additional 1,505 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of A-Mark Precious Metals by 7.6% during the 1st quarter. Dimensional Fund Advisors LP now owns 320,943 shares of the company’s stock valued at $24,824,000 after purchasing an additional 22,632 shares during the last quarter. Institutional investors own 54.84% of the company’s stock.
Insiders Place Their Bets
In other A-Mark Precious Metals news, Director Michael R. Wittmeyer sold 22,383 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $26.06, for a total value of $583,300.98. Following the completion of the sale, the director now directly owns 453,283 shares in the company, valued at approximately $11,812,554.98. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Gregory N. Roberts sold 8,696 shares of the company’s stock in a transaction on Thursday, February 29th. The stock was 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 directly owns 28,202 shares in the company, valued at approximately $713,510.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Michael R. Wittmeyer sold 22,383 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $26.06, for a total value of $583,300.98. Following the sale, the director now owns 453,283 shares of the company’s stock, valued at $11,812,554.98. The disclosure for this sale can be found here. In the last ninety days, insiders sold 53,637 shares of company stock worth $1,396,360. 23.20% of the stock is currently owned by company insiders.
Wall Street Analyst Weigh In
Several equities analysts have recently weighed in on the company. B. Riley cut their target price on A-Mark Precious Metals from $41.00 to $33.00 and set a “buy” rating on the stock in a research report on Wednesday, February 21st. DA Davidson reaffirmed a “buy” rating and issued a $42.00 price objective on shares of A-Mark Precious Metals in a research report on Monday, March 4th. Finally, StockNews.com raised A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research report on Monday, February 12th.
Check Out Our Latest Stock Analysis on A-Mark Precious Metals
A-Mark Precious Metals Stock Performance
Shares of A-Mark Precious Metals stock opened at $27.77 on Friday. The stock’s fifty day moving average is $27.19 and its two-hundred day moving average is $28.84. The company has a market capitalization of $634.68 million and a PE ratio of 6.16. The company has a quick ratio of 0.32, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. A-Mark Precious Metals, Inc. has a 52 week low of $23.14 and a 52 week high of $42.11.
A-Mark Precious Metals (NASDAQ:AMRK – Get Free Report) last issued its earnings results on Tuesday, February 6th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate of $1.23 by ($0.33). A-Mark Precious Metals had a return on equity of 26.90% and a net margin of 1.10%. The firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.25 billion. As a group, analysts expect that A-Mark Precious Metals, Inc. will post 4.33 earnings per share for the current year.
A-Mark Precious Metals Announces Dividend
The company also recently announced a quarterly dividend, which was paid on Monday, January 29th. Shareholders of record on Tuesday, January 16th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.88%. The ex-dividend date of this dividend was Friday, January 12th. A-Mark Precious Metals’s dividend payout ratio is 17.74%.
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.
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