Jacobs Asset Management LLC Has $6.91 Million Position in A-Mark Precious Metals, Inc. $AMRK

Key Points

• Jacobs Asset Management LLC has reduced its holdings in A-Mark Precious Metals by 12.1%, now holding 272,500 shares, which represent approximately 4.3% of its investment portfolio.
• Institutional investors collectively own 75.25% of A-Mark Precious Metals, with significant modifications in their positions during the first quarter, including increases from Teacher Retirement System of Texas by 6.7%.
• A-Mark Precious Metals announced a quarterly dividend of $0.20 per share, translating to an annualized yield of 3.4%, with a payout ratio of 54.05%.

Jacobs Asset Management LLC trimmed its position in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) by 12.1% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 272,500 shares of the company's stock after selling 37,500 shares during the quarter. A-Mark Precious Metals accounts for approximately 4.3% of Jacobs Asset Management LLC's investment portfolio, making the stock its 9th largest position. Jacobs Asset Management LLC owned 1.18% of A-Mark Precious Metals worth $6,913,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in AMRK. Invesco Ltd. lifted its holdings in shares of A-Mark Precious Metals by 120.5% in the 1st quarter. Invesco Ltd. now owns 524,342 shares of the company's stock worth $13,303,000 after acquiring an additional 286,512 shares during the last quarter. Nuveen LLC purchased a new stake in A-Mark Precious Metals in the 1st quarter worth about $6,350,000. Raymond James Financial Inc. lifted its stake in 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 purchasing an additional 232,539 shares during the last quarter. Pacer Advisors Inc. bought a new stake in A-Mark Precious Metals in the first quarter worth about $5,754,000. Finally, Ameriprise Financial Inc. purchased a new position in shares of A-Mark Precious Metals during the fourth quarter valued at approximately $5,059,000. Hedge funds and other institutional investors own 75.25% of the company's stock.

Insiders Place Their Bets

In related news, CFO Kathleen Taylor-Simpson sold 5,000 shares of the company's stock in a transaction dated 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 through the SEC website. 48.64% of the stock is currently owned by company insiders.

A-Mark Precious Metals Trading Up 0.3%

AMRK traded up $0.06 during trading on Thursday, hitting $22.97. 120,127 shares of the stock were exchanged, compared to its average volume of 190,427. 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 firm has a 50 day simple moving average of $22.44 and a 200 day simple moving average of $23.60. The firm has a market cap of $565.52 million, a price-to-earnings ratio of 15.52 and a beta of 0.14. A-Mark Precious Metals, Inc. has a 1 year low of $19.39 and a 1 year high of $47.39.

A-Mark Precious Metals Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, August 1st. Investors of record on Friday, July 18th were issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 3.5%. The ex-dividend date was Friday, July 18th. A-Mark Precious Metals's payout ratio is presently 54.05%.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. DA Davidson reduced their price target on A-Mark Precious Metals from $35.00 to $29.00 and set a "buy" rating on the stock in a report on Thursday, May 8th. Wall Street Zen upgraded A-Mark Precious Metals from a "sell" rating to a "hold" rating in a research note on Saturday, May 17th. One equities research analyst has rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and an average target price of $33.00.

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.