A-Mark Precious Metals, Inc. $AMRK Shares Sold by Goldman Sachs Group Inc.

Key Points

• Goldman Sachs Group Inc. reduced its holdings in A-Mark Precious Metals by 12.7%, owning approximately 111,203 shares worth $2.82 million as of its latest SEC filing.
• A-Mark Precious Metals received several analyst upgrades, with Zacks Research and Roth Capital both rating the stock as a "strong-buy" and a consensus price target of $33.00.
• The company recently announced a quarterly dividend of $0.20 per share, resulting in an annualized yield of 3.0% and a high payout ratio of 115.94%.

Goldman Sachs Group Inc. cut its position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) by 12.7% during the first quarter, according to its most recent Form 13F filing with the SEC. The firm owned 111,203 shares of the company's stock after selling 16,186 shares during the period. Goldman Sachs Group Inc. owned approximately 0.45% of A-Mark Precious Metals worth $2,821,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of AMRK. Invenomic Capital Management LP purchased a new stake in shares of A-Mark Precious Metals in the first quarter worth about $8,552,000. Invesco Ltd. boosted its stake in shares of A-Mark Precious Metals by 120.5% in the first quarter. Invesco Ltd. now owns 524,342 shares of the company's stock worth $13,303,000 after buying an additional 286,512 shares during the last quarter. Nuveen LLC purchased a new stake in shares of A-Mark Precious Metals in the first quarter worth about $6,350,000. Raymond James Financial Inc. boosted its stake in shares of A-Mark Precious Metals by 2,692.0% in the first quarter. Raymond James Financial Inc. now owns 241,177 shares of the company's stock worth $6,119,000 after buying an additional 232,539 shares during the last quarter. Finally, Pacer Advisors Inc. purchased a new stake in shares of A-Mark Precious Metals in the first quarter worth about $5,754,000. Hedge funds and other institutional investors own 75.25% of the company's stock.

A-Mark Precious Metals Price Performance

Shares of NASDAQ:AMRK traded up $0.61 during midday trading on Tuesday, hitting $27.71. The company had a trading volume of 110,914 shares, compared to its average volume of 272,954. A-Mark Precious Metals, Inc. has a twelve month low of $19.39 and a twelve month high of $46.31. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.56 and a quick ratio of 0.42. The stock has a market cap of $682.77 million, a price-to-earnings ratio of 40.13 and a beta of 0.16. The business's 50-day simple moving average is $23.42 and its 200-day simple moving average is $23.29.

A-Mark Precious Metals (NASDAQ:AMRK - Get Free Report) last posted its quarterly earnings results on Tuesday, September 9th. The company reported $0.76 EPS for the quarter, beating the consensus estimate of $0.57 by $0.19. A-Mark Precious Metals had a return on equity of 7.77% and a net margin of 0.16%.The firm had revenue of $2.51 billion during the quarter, compared to analysts' expectations of $2.91 billion. During the same quarter last year, the firm earned $0.76 earnings per share. On average, research analysts predict that A-Mark Precious Metals, Inc. will post 2.11 earnings per share for the current year.

A-Mark Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Shareholders of record on Friday, July 18th were paid a dividend of $0.20 per share. The ex-dividend date of this dividend was Friday, July 18th. This represents a $0.80 annualized dividend and a yield of 2.9%. A-Mark Precious Metals's dividend payout ratio (DPR) is 115.94%.

Analyst Ratings Changes

AMRK has been the topic of a number of recent research reports. DA Davidson restated a "buy" rating and issued a $29.00 target price on shares of A-Mark Precious Metals in a research note on Wednesday, September 10th. Zacks Research upgraded A-Mark Precious Metals from a "hold" rating to a "strong-buy" rating in a research report on Thursday, September 11th. Finally, Roth Capital upgraded A-Mark Precious Metals to a "strong-buy" rating in a research report on Wednesday, September 10th. Two research analysts have rated the stock with a Strong Buy rating, one has given a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of "Buy" and an average target price of $33.00.

Insider Transactions at A-Mark Precious Metals

In other A-Mark Precious Metals news, Director Moorhead John sold 2,600 shares of the firm's stock in a transaction on Monday, September 15th. The stock was sold at an average price of $26.97, for a total transaction of $70,122.00. Following the completion of the sale, the director owned 32,974 shares of the company's stock, valued at $889,308.78. This trade represents a 7.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 48.64% of the stock is currently owned by company insiders.

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.