Short Interest in A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Expands By 169.9%
A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Get Rating) was the recipient of a significant increase in short interest in May. As of May 31st, there was short interest totalling 787,700 shares, an increase of 169.9% from the May 15th total of 291,900 shares. Based on an average trading volume of 263,100 shares, the days-to-cover ratio is presently 3.0 days.
Shares of AMRK opened at $33.76 on Friday. The firm has a market cap of $777.49 million, a P/E ratio of 5.57 and a beta of -0.45. The company has a quick ratio of 0.46, a current ratio of 1.43 and a debt-to-equity ratio of 0.21. A-Mark Precious Metals has a 52-week low of $21.10 and a 52-week high of $44.60. The business has a fifty day moving average of $37.02.
A-Mark Precious Metals (NASDAQ:AMRK – Get Rating) last announced its earnings results on Thursday, May 5th. The company reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $0.97 by $1.26. The company had revenue of $2.11 billion during the quarter, compared to analysts’ expectations of $2.05 billion. A-Mark Precious Metals had a return on equity of 41.21% and a net margin of 1.77%. During the same period last year, the business posted $4.42 EPS. On average, equities analysts expect that A-Mark Precious Metals will post 5.32 EPS for the current year.
Several research analysts recently commented on AMRK shares. Northland Securities increased their price objective on A-Mark Precious Metals from $55.00 to $60.00 and gave the company an “outperform” rating in a research note on Wednesday, May 25th. StockNews.com initiated coverage on A-Mark Precious Metals in a research note on Thursday, March 31st. They issued a “hold” rating for the company. One research analyst has rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat, A-Mark Precious Metals presently has an average rating of “Buy” and an average price target of $46.83.
In other news, Director Jeffrey D. Benjamin sold 5,209 shares of the stock in a transaction that occurred on Monday, March 14th. The stock was sold at an average price of $70.30, for a total transaction of $366,192.70. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory N. Roberts sold 12,000 shares of the stock in a transaction that occurred on Wednesday, March 16th. The shares were sold at an average price of $70.77, for a total value of $849,240.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 121,301 shares of company stock worth $8,625,951. Corporate insiders own 25.60% of the company’s stock.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Bank of America Corp DE boosted its stake in shares of A-Mark Precious Metals by 260.4% in the 1st quarter. Bank of America Corp DE now owns 48,352 shares of the company’s stock valued at $3,740,000 after buying an additional 34,936 shares during the period. Keeley Teton Advisors LLC raised its position in shares of A-Mark Precious Metals by 3.4% during the 1st quarter. Keeley Teton Advisors LLC now owns 6,000 shares of the company’s stock worth $464,000 after acquiring an additional 200 shares in the last quarter. Quantbot Technologies LP raised its position in shares of A-Mark Precious Metals by 7,997.0% during the 1st quarter. Quantbot Technologies LP now owns 8,097 shares of the company’s stock worth $626,000 after acquiring an additional 7,997 shares in the last quarter. Royal Bank of Canada raised its position in shares of A-Mark Precious Metals by 892.9% during the 1st quarter. Royal Bank of Canada now owns 20,016 shares of the company’s stock worth $1,548,000 after acquiring an additional 18,000 shares in the last quarter. Finally, Goldman Sachs Group Inc. raised its position in shares of A-Mark Precious Metals by 214.9% during the 1st quarter. Goldman Sachs Group Inc. now owns 80,078 shares of the company’s stock worth $6,193,000 after acquiring an additional 54,647 shares in the last quarter. Institutional investors and hedge funds 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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