A-Mark Precious Metals (NASDAQ:AMRK) Stock Price Down 4.9% - Here's What Happened

A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Get Free Report) dropped 4.9% during trading on Monday . The stock traded as low as $23.44 and last traded at $22.97. Approximately 24,719 shares traded hands during mid-day trading, a decline of 92% from the average daily volume of 294,528 shares. The stock had previously closed at $24.15.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on AMRK. DA Davidson cut their price objective on 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. Wall Street Zen raised shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research report on Saturday, May 17th. Finally, B. Riley lowered their target price on shares of A-Mark Precious Metals from $37.00 to $34.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 29th.

A-Mark Precious Metals Stock Down 2.6%

The company has a market cap of $578.94 million, a PE ratio of 15.93 and a beta of 0.22. The firm has a 50-day simple moving average of $21.60 and a two-hundred day simple moving average of $24.76. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 0.39.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last posted 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). A-Mark Precious Metals had a net margin of 0.32% and a return on equity of 8.04%. The company had revenue of $3.01 billion for the quarter, compared to analyst estimates of $2.66 billion. Research analysts anticipate that A-Mark Precious Metals, Inc. will post 2.11 earnings per share for the current fiscal year.

A-Mark Precious Metals Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, August 1st. Shareholders of record on Friday, July 18th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.40%. The ex-dividend date of this dividend is Friday, July 18th. A-Mark Precious Metals's dividend payout ratio is presently 54.05%.

Insider Activity

In other news, CFO Kathleen Taylor-Simpson sold 5,000 shares of the stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $20.68, for a total transaction of $103,400.00. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 48.64% of the stock is owned by company insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

Large investors have recently modified their holdings of the company. Bank of New York Mellon Corp grew its holdings in A-Mark Precious Metals by 43.6% during the 4th quarter. Bank of New York Mellon Corp now owns 214,270 shares of the company's stock valued at $5,871,000 after purchasing an additional 65,014 shares in the last quarter. Victory Capital Management Inc. grew its holdings in A-Mark Precious Metals by 85.1% during the 4th quarter. Victory Capital Management Inc. now owns 9,456 shares of the company's stock worth $259,000 after acquiring an additional 4,347 shares in the last quarter. Proficio Capital Partners LLC bought a new stake in A-Mark Precious Metals in the fourth quarter valued at about $338,000. Raymond James Financial Inc. bought a new stake in shares of A-Mark Precious Metals in the 4th quarter valued at approximately $237,000. Finally, Farther Finance Advisors LLC increased its holdings in shares of A-Mark Precious Metals by 446.6% in the 4th quarter. Farther Finance Advisors LLC now owns 2,252 shares of the company's stock valued at $62,000 after acquiring an additional 1,840 shares during the last quarter. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

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.

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