Bank of New York Mellon Corp Cuts Stake in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Bank of New York Mellon Corp decreased its holdings in A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) by 9.3% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 194,263 shares of the company's stock after selling 20,007 shares during the period. Bank of New York Mellon Corp owned approximately 0.84% of A-Mark Precious Metals worth $4,928,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in AMRK. Ameriprise Financial Inc. purchased a new stake in shares of A-Mark Precious Metals in the 4th quarter valued at $5,059,000. Invesco Ltd. boosted its stake in shares of A-Mark Precious Metals by 47.2% in the 4th quarter. Invesco Ltd. now owns 237,830 shares of the company's stock valued at $6,517,000 after purchasing an additional 76,301 shares in the last quarter. Evergreen Capital Management LLC boosted its stake in shares of A-Mark Precious Metals by 92.6% in the 4th quarter. Evergreen Capital Management LLC now owns 157,033 shares of the company's stock valued at $4,303,000 after purchasing an additional 75,486 shares in the last quarter. Teacher Retirement System of Texas purchased a new stake in shares of A-Mark Precious Metals in the 4th quarter valued at $1,473,000. Finally, ExodusPoint Capital Management LP boosted its stake in shares of A-Mark Precious Metals by 271.5% in the 4th quarter. ExodusPoint Capital Management LP now owns 69,207 shares of the company's stock valued at $1,896,000 after purchasing an additional 50,580 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company's stock.

Insider Buying and Selling

In related 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 filing with the SEC, which can be accessed through the SEC website. Company insiders own 48.64% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. DA Davidson lowered their price target on shares of 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. B. Riley lowered their price target 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. Finally, Wall Street Zen upgraded shares of A-Mark Precious Metals from a "sell" rating to a "hold" rating in a report on Saturday, May 17th.

A-Mark Precious Metals Stock Down 1.1%

Shares of A-Mark Precious Metals stock traded down $0.24 during trading on Monday, hitting $21.85. The company's stock had a trading volume of 104,817 shares, compared to its average volume of 184,052. The company has a debt-to-equity ratio of 0.46, a quick ratio of 0.39 and a current ratio of 1.56. The company has a fifty day simple moving average of $21.64 and a two-hundred day simple moving average of $24.37. The company has a market capitalization of $537.95 million, a PE ratio of 14.76 and a beta of 0.22. A-Mark Precious Metals, Inc. has a 52 week low of $19.39 and a 52 week high of $47.39.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last issued 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 8.04% and a net margin of 0.32%. The business had revenue of $3.01 billion during the quarter, compared to the consensus estimate of $2.66 billion. Equities research analysts predict that A-Mark Precious Metals, Inc. will post 2.11 earnings per share for the current year.

A-Mark Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, August 1st. Investors of record on Friday, July 18th will be given a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a yield of 3.66%. The ex-dividend date of this dividend is Friday, July 18th. A-Mark Precious Metals's dividend payout ratio (DPR) is 54.05%.

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.