Insider Selling: A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Director Sells 1,835 Shares of Stock
A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Get Rating) Director Michael R. Wittmeyer sold 1,835 shares of the business’s stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $77.51, for a total transaction of $142,230.85. Following the completion of the transaction, the director now directly owns 292,989 shares in the company, valued at $22,709,577.39. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Shares of AMRK traded down $2.96 during midday trading on Wednesday, hitting $73.07. 127,901 shares of the company traded hands, compared to its average volume of 117,795. The stock’s 50-day moving average is $75.39. A-Mark Precious Metals, Inc. has a one year low of $42.20 and a one year high of $89.19. The firm has a market cap of $841.33 million, a price-to-earnings ratio of 6.03 and a beta of -0.45. The company has a debt-to-equity ratio of 0.21, a quick ratio of 0.46 and a current ratio of 1.43.
A-Mark Precious Metals shares are set to split on the morning of Tuesday, June 7th. The 2-1 split was announced on Tuesday, June 7th. The newly created shares will be payable to shareholders after the market closes on Tuesday, June 7th.
A-Mark Precious Metals (NASDAQ:AMRK – Get Rating) last announced its quarterly earnings results on Thursday, May 5th. The company reported $3.06 earnings per share for the quarter, beating the consensus estimate of $1.96 by $1.10. A-Mark Precious Metals had a return on equity of 41.21% and a net margin of 1.77%. During the same quarter in the previous year, the firm earned $8.84 EPS. On average, equities research analysts predict that A-Mark Precious Metals, Inc. will post 10.64 earnings per share for the current fiscal year.
Several equities research analysts have commented on AMRK shares. Northland Securities upped their price objective on shares of A-Mark Precious Metals from $110.00 to $120.00 and gave the company an “outperform” rating in a report on Wednesday, May 25th. Zacks Investment Research raised shares of A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective on the stock in a report on Tuesday, May 10th. Finally, StockNews.com started coverage on shares of A-Mark Precious Metals in a report on Thursday, March 31st. They set a “hold” rating on the stock. One research analyst has rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, A-Mark Precious Metals presently has an average rating of “Buy” and a consensus price target of $89.25.
Several institutional investors and hedge funds have recently made changes to their positions in AMRK. Point72 Hong Kong Ltd bought a new stake in shares of A-Mark Precious Metals during the third quarter valued at about $26,000. Dorsey Wright & Associates bought a new position in shares of A-Mark Precious Metals in the fourth quarter worth approximately $44,000. Royal Bank of Canada increased its position in shares of A-Mark Precious Metals by 45.3% in the third quarter. Royal Bank of Canada now owns 985 shares of the company’s stock worth $59,000 after purchasing an additional 307 shares during the last quarter. Citigroup Inc. increased its position in shares of A-Mark Precious Metals by 139.7% in the third quarter. Citigroup Inc. now owns 997 shares of the company’s stock worth $60,000 after purchasing an additional 581 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in shares of A-Mark Precious Metals in the first quarter worth approximately $61,000. Hedge funds and other institutional investors own 43.08% of the company’s stock.
About A-Mark Precious Metals (Get Rating)
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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