Michael R. Wittmeyer Sells 35,186 Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Stock
A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Get Rating) Director Michael R. Wittmeyer sold 35,186 shares of the firm’s stock in a transaction on Thursday, June 2nd. The shares were sold at an average price of $74.37, for a total value of $2,616,782.82. Following the sale, the director now directly owns 257,803 shares of the company’s stock, valued at $19,172,809.11. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink.
AMRK stock traded down $1.63 during mid-day trading on Friday, reaching $74.26. 2,359 shares of the company traded hands, compared to its average volume of 141,955. The company has a quick ratio of 0.46, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. The stock has a market capitalization of $854.73 million, a P/E ratio of 6.11 and a beta of -0.45. A-Mark Precious Metals, Inc. has a 52-week low of $42.20 and a 52-week high of $89.19. The company has a fifty day moving average price of $75.31.
Shares of A-Mark Precious Metals are going 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 posted its earnings results on Thursday, May 5th. The company reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the firm posted $8.84 earnings per share. Analysts expect that A-Mark Precious Metals, Inc. will post 10.64 earnings per share for the current fiscal year.
AMRK has been the subject of several research analyst reports. StockNews.com began coverage on A-Mark Precious Metals in a research report on Thursday, March 31st. They set a “hold” rating for the company. Northland Securities lifted their price objective on A-Mark Precious Metals from $110.00 to $120.00 and gave the stock an “outperform” rating in a report on Wednesday, May 25th. Finally, Zacks Investment Research raised A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating and set a $76.00 price objective for the company in a report on Tuesday, May 10th. One research analyst has rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Buy” and an average target price of $89.25.
Institutional investors and hedge funds have recently modified their holdings of the company. Point72 Hong Kong Ltd bought a new stake in shares of A-Mark Precious Metals during the 3rd quarter valued at about $26,000. Dorsey Wright & Associates bought a new stake in shares of A-Mark Precious Metals during the 4th quarter valued at about $44,000. Royal Bank of Canada lifted its position in A-Mark Precious Metals by 45.3% in the 3rd quarter. Royal Bank of Canada now owns 985 shares of the company’s stock worth $59,000 after buying an additional 307 shares during the last quarter. Citigroup Inc. lifted its position in A-Mark Precious Metals by 139.7% in the 3rd quarter. Citigroup Inc. now owns 997 shares of the company’s stock worth $60,000 after buying an additional 581 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in A-Mark Precious Metals in the 1st quarter worth approximately $61,000. Hedge funds and other institutional investors own 43.08% of the company’s stock.
A-Mark Precious Metals Company Profile (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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