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A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Down - Here's What Happened

A-Mark Precious Metals logo with Consumer Discretionary background

A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report)'s stock price gapped down prior to trading on Thursday . The stock had previously closed at $37.63, but opened at $33.45. A-Mark Precious Metals shares last traded at $35.62, with a volume of 134,069 shares traded.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on AMRK. StockNews.com raised A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research note on Tuesday. DA Davidson upped their price objective on A-Mark Precious Metals from $47.00 to $52.00 and gave the company a "buy" rating in a report on Monday, September 30th. Four investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, A-Mark Precious Metals has a consensus rating of "Hold" and a consensus price target of $49.33.

Read Our Latest Stock Report on AMRK

A-Mark Precious Metals Stock Performance

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.63 and a quick ratio of 0.39. The firm has a market cap of $754.15 million, a price-to-earnings ratio of 11.84 and a beta of -0.01. The company has a fifty day moving average price of $41.88 and a two-hundred day moving average price of $38.30.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last announced its earnings results on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing the consensus estimate of $1.44 by ($0.59). A-Mark Precious Metals had a net margin of 0.68% and a return on equity of 13.28%. The company had revenue of $2.52 billion for the quarter, compared to analysts' expectations of $2.64 billion. As a group, equities research analysts expect that A-Mark Precious Metals, Inc. will post 4.29 EPS for the current year.

A-Mark Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th were issued a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 2.46%. The ex-dividend date was Tuesday, October 8th. A-Mark Precious Metals's dividend payout ratio is 29.09%.

Insider Activity

In other news, CEO Gregory N. Roberts sold 22,000 shares of the company's stock in a transaction on Monday, September 16th. The stock was sold at an average price of $45.44, for a total transaction of $999,680.00. Following the completion of the sale, the chief executive officer now directly owns 28,202 shares of the company's stock, valued at $1,281,498.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, CEO Gregory N. Roberts sold 22,000 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.44, for a total value of $999,680.00. Following the completion of the sale, the chief executive officer now directly owns 28,202 shares of the company's stock, valued at approximately $1,281,498.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jess M. Ravich sold 14,500 shares of the stock in a transaction dated Monday, September 16th. The stock was sold at an average price of $45.68, for a total value of $662,360.00. Following the completion of the sale, the director now directly owns 190,500 shares of the company's stock, valued at approximately $8,702,040. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 110,316 shares of company stock valued at $4,911,036 over the last three months. Insiders own 48.64% of the company's stock.

Institutional Investors Weigh In On A-Mark Precious Metals

Several hedge funds have recently bought and sold shares of the business. Quarry LP increased its position in A-Mark Precious Metals by 94.1% in the 2nd quarter. Quarry LP now owns 1,112 shares of the company's stock worth $36,000 after purchasing an additional 539 shares during the last quarter. nVerses Capital LLC acquired a new position in A-Mark Precious Metals in the 2nd quarter worth about $45,000. Strategic Investment Solutions Inc. IL acquired a new position in A-Mark Precious Metals in the 3rd quarter worth about $88,000. Victory Capital Management Inc. acquired a new position in A-Mark Precious Metals in the 3rd quarter worth about $226,000. Finally, Quantbot Technologies LP increased its position in A-Mark Precious Metals by 192.5% in the 1st quarter. Quantbot Technologies LP now owns 7,438 shares of the company's stock worth $228,000 after purchasing an additional 4,895 shares during the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

About A-Mark Precious Metals

(Get Free Report)

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.

See Also

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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