250,295 Shares in A-Mark Precious Metals, Inc. $AMRK Acquired by Nuveen LLC

Key Points

• Nuveen LLC has acquired a new stake of approximately $6.35 million in A-Mark Precious Metals, Inc., purchasing 250,295 shares and holding about 1.09% of the company following the first quarter.
• A-Mark Precious Metals recently announced a quarterly dividend of $0.20 per share, leading to an annualized yield of 3.4%.
• Brokerages have updated their price targets for A-Mark, with a consensus rating of "Hold" and an average target price of $33.00.

Nuveen LLC bought a new position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 250,295 shares of the company's stock, valued at approximately $6,350,000. Nuveen LLC owned about 1.09% of A-Mark Precious Metals at the end of the most recent quarter.

Several other large investors have also recently made changes to their positions in the company. Vanguard Group Inc. increased its holdings in shares of A-Mark Precious Metals by 12.4% in the first quarter. Vanguard Group Inc. now owns 1,152,737 shares of the company's stock worth $29,245,000 after purchasing an additional 127,072 shares during the last quarter. Invesco Ltd. increased its holdings 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 purchasing an additional 286,512 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of A-Mark Precious Metals by 33.9% in the first quarter. Charles Schwab Investment Management Inc. now owns 330,145 shares of the company's stock worth $8,376,000 after purchasing an additional 83,635 shares during the last quarter. Jacobs Asset Management LLC increased its stake in A-Mark Precious Metals by 12.7% during the fourth quarter. Jacobs Asset Management LLC now owns 310,000 shares of the company's stock worth $8,494,000 after acquiring an additional 35,000 shares during the last quarter. Finally, Nuveen Asset Management LLC increased its stake in A-Mark Precious Metals by 1.3% during the fourth quarter. Nuveen Asset Management LLC now owns 250,997 shares of the company's stock worth $6,877,000 after acquiring an additional 3,178 shares during the last quarter. 75.25% of the stock is owned by institutional investors.

Analysts Set New Price Targets

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

Insider Activity at A-Mark Precious Metals

In other news, CFO Kathleen Taylor-Simpson sold 5,000 shares of the company's stock in a transaction that occurred on Monday, June 2nd. The stock was sold at an average price of $20.68, for a total transaction of $103,400.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 48.64% of the company's stock.

A-Mark Precious Metals Trading Up 1.9%

Shares of AMRK traded up $0.44 during mid-day trading on Friday, reaching $23.41. 127,484 shares of the company's stock traded hands, compared to its average volume of 181,095. The stock has a market cap of $576.35 million, a P/E ratio of 15.82 and a beta of 0.16. The stock's 50-day moving average is $22.48 and its two-hundred day moving average is $23.49. A-Mark Precious Metals, Inc. has a 12 month low of $19.39 and a 12 month high of $47.39. The company has a debt-to-equity ratio of 0.46, a current ratio of 1.56 and a quick ratio of 0.39.

A-Mark Precious Metals Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, August 1st. Stockholders 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 dividend on an annualized basis and a dividend yield of 3.4%. A-Mark Precious Metals's dividend payout ratio is currently 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.