Bank of America Corp DE Sells 58,692 Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Bank of America Corp DE cut its stake in A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) by 43.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 75,367 shares of the company's stock after selling 58,692 shares during the quarter. Bank of America Corp DE owned approximately 0.33% of A-Mark Precious Metals worth $2,065,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of AMRK. Ameriprise Financial Inc. acquired a new stake in A-Mark Precious Metals during the 4th quarter worth approximately $5,059,000. Ancora Advisors LLC increased its position in A-Mark Precious Metals by 2,013.1% during the 4th quarter. Ancora Advisors LLC now owns 7,121 shares of the company's stock worth $195,000 after buying an additional 6,784 shares during the period. Schonfeld Strategic Advisors LLC lifted its holdings 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 buying an additional 1,379 shares in the last quarter. Northern Trust Corp boosted its position in shares of A-Mark Precious Metals by 2.7% in the fourth quarter. Northern Trust Corp now owns 186,371 shares of the company's stock valued at $5,107,000 after acquiring an additional 4,940 shares during the period. Finally, Aquatic Capital Management LLC acquired a new position in shares of A-Mark Precious Metals in the fourth quarter valued at about $395,000. Institutional investors and hedge funds own 75.25% of the company's stock.

A-Mark Precious Metals Trading Up 1.8%

Shares of AMRK stock traded up $0.37 on Thursday, hitting $20.77. The company had a trading volume of 154,742 shares, compared to its average volume of 304,933. A-Mark Precious Metals, Inc. has a twelve month low of $19.39 and a twelve month high of $47.39. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.31 and a current ratio of 1.58. The firm has a market cap of $511.46 million, a P/E ratio of 10.13 and a beta of 0.32. The stock's 50-day moving average is $22.63 and its two-hundred day moving average is $26.10.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last released its quarterly earnings results on Wednesday, May 7th. The company reported $0.24 earnings per share (EPS) for the quarter, missing the consensus estimate of $0.78 by ($0.54). A-Mark Precious Metals had a return on equity of 9.29% and a net margin of 0.46%. The firm had revenue of $3.01 billion for the quarter, compared to the consensus estimate of $2.66 billion. On average, equities 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 Dividend Announcement

The company also recently declared 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 of this dividend was Tuesday, April 15th. This represents a $0.80 dividend on an annualized basis and a yield of 3.85%. A-Mark Precious Metals's dividend payout ratio (DPR) is currently 54.05%.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on the stock. Wall Street Zen raised shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a report on Saturday, May 17th. B. Riley reduced their price objective on A-Mark Precious Metals from $37.00 to $34.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 29th. Northland Securities decreased 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 note on Friday, February 7th. Finally, DA Davidson lowered their target price on A-Mark Precious Metals from $35.00 to $29.00 and set a "buy" rating for the company in a report on Thursday, May 8th.

Insiders Place Their Bets

In other news, CFO Kathleen Taylor-Simpson sold 5,000 shares of A-Mark Precious Metals stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $20.68, for a total value of $103,400.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Company insiders own 48.64% of the company's stock.

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.