A-Mark Precious Metals (NASDAQ:AMRK) Stock Passes Above 50-Day Moving Average - Here's What Happened

Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report) passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $21.79 and traded as high as $23.12. A-Mark Precious Metals shares last traded at $22.73, with a volume of 198,854 shares trading hands.

Wall Street Analysts Forecast Growth

AMRK has been the subject of a number of research analyst reports. Wall Street Zen upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. DA Davidson reduced their price target on shares of A-Mark Precious Metals from $35.00 to $29.00 and set a "buy" rating on the stock in a research report on Thursday, May 8th. Finally, B. Riley dropped their price objective on shares of A-Mark Precious Metals from $37.00 to $34.00 and set a "neutral" rating for the company in a report on Tuesday, April 29th.

A-Mark Precious Metals Stock Performance

The stock has a 50-day moving average price of $21.75 and a 200 day moving average price of $24.91. The company has a quick ratio of 0.39, a current ratio of 1.56 and a debt-to-equity ratio of 0.46. The firm has a market capitalization of $562.57 million, a price-to-earnings ratio of 15.44 and a beta of 0.22.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.24 EPS for the quarter, missing analysts' consensus estimates of $0.78 by ($0.54). The firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $2.66 billion. A-Mark Precious Metals had a net margin of 0.32% and a return on equity of 8.04%. On average, analysts forecast that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current year.

Insider Transactions at A-Mark Precious Metals

In related news, CFO Kathleen Taylor-Simpson sold 5,000 shares of the stock in a transaction on Monday, June 2nd. The stock was sold at an average price of $20.68, for a total transaction of $103,400.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 48.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of large investors have recently bought and sold shares of AMRK. New York State Teachers Retirement System purchased a new position in A-Mark Precious Metals during the first quarter worth about $41,000. Coppell Advisory Solutions LLC raised its stake in shares of A-Mark Precious Metals by 72.5% during the 4th quarter. Coppell Advisory Solutions LLC now owns 1,917 shares of the company's stock worth $53,000 after buying an additional 806 shares in the last quarter. CWM LLC boosted its stake in shares of A-Mark Precious Metals by 1,192.3% in the first quarter. CWM LLC now owns 2,184 shares of the company's stock valued at $55,000 after buying an additional 2,015 shares in the last quarter. Farther Finance Advisors LLC grew its holdings in A-Mark Precious Metals by 446.6% during the fourth quarter. Farther Finance Advisors LLC now owns 2,252 shares of the company's stock worth $62,000 after acquiring an additional 1,840 shares during the period. Finally, NBC Securities Inc. purchased a new position in A-Mark Precious Metals in the first quarter worth $70,000. Hedge funds and other institutional investors own 75.25% of the company's stock.

About A-Mark Precious Metals

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.