Balyasny Asset Management L.P. Decreases Stake in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Balyasny Asset Management L.P. lowered its stake in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) by 28.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 40,845 shares of the company's stock after selling 16,532 shares during the quarter. Balyasny Asset Management L.P. owned approximately 0.18% of A-Mark Precious Metals worth $1,119,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Ameriprise Financial Inc. purchased a new position in shares of A-Mark Precious Metals during the fourth quarter worth approximately $5,059,000. Ancora Advisors LLC grew its position in shares of A-Mark Precious Metals by 2,013.1% during the fourth quarter. Ancora Advisors LLC now owns 7,121 shares of the company's stock worth $195,000 after acquiring an additional 6,784 shares during the last quarter. Schonfeld Strategic Advisors LLC grew its position in shares of A-Mark Precious Metals by 19.9% during the fourth quarter. Schonfeld Strategic Advisors LLC now owns 8,300 shares of the company's stock worth $227,000 after acquiring an additional 1,379 shares during the last quarter. Northern Trust Corp grew its position in shares of A-Mark Precious Metals by 2.7% during the fourth quarter. Northern Trust Corp now owns 186,371 shares of the company's stock worth $5,107,000 after acquiring an additional 4,940 shares during the last quarter. Finally, Aquatic Capital Management LLC purchased a new position in shares of A-Mark Precious Metals during the fourth quarter worth approximately $395,000. 75.25% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on AMRK. StockNews.com upgraded shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research report on Saturday. Northland Securities lowered their target price on shares of A-Mark Precious Metals from $40.00 to $36.00 and set a "market perform" rating on the stock in a research report on Friday, February 7th. B. Riley lowered their price objective 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. Finally, DA Davidson lowered their price objective 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. Three equities research analysts have rated the stock with a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $40.50.

A-Mark Precious Metals Stock Performance

NASDAQ:AMRK traded down $0.36 during midday trading on Monday, reaching $21.07. The stock had a trading volume of 152,978 shares, compared to its average volume of 307,904. The firm has a fifty day simple moving average of $24.39 and a two-hundred day simple moving average of $27.00. A-Mark Precious Metals, Inc. has a 12-month low of $19.76 and a 12-month high of $47.39. The company has a quick ratio of 0.31, a current ratio of 1.58 and a debt-to-equity ratio of 0.34. The stock has a market cap of $518.85 million, a P/E ratio of 10.28 and a beta of 0.32.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.24 earnings per share for the quarter, missing analysts' consensus estimates of $0.78 by ($0.54). A-Mark Precious Metals had a net margin of 0.46% and a return on equity of 9.29%. The firm had revenue of $3.01 billion during the quarter, compared to analysts' expectations of $2.66 billion. On average, equities analysts expect that A-Mark Precious Metals, Inc. will post 2.11 EPS for the current year.

A-Mark Precious Metals Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 29th. Shareholders of record on Tuesday, April 15th were given a dividend of $0.20 per share. The ex-dividend date was Tuesday, April 15th. This represents a $0.80 annualized dividend and a dividend yield of 3.80%. A-Mark Precious Metals's payout ratio is currently 54.05%.

A-Mark Precious Metals Company Profile

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.