Raymond James Financial Inc. Boosts Stake in A-Mark Precious Metals, Inc. $AMRK

Key Points

• Raymond James Financial Inc. increased its stake in A-Mark Precious Metals by 2,692.0%, acquiring an additional 232,539 shares for a total of 241,177 shares, valued at approximately $6.1 million.
• Institutional investors currently hold 75.25% of A-Mark’s stock, with several firms increasing their positions in the most recent quarter.
• A-Mark Precious Metals reported a consensus rating of "Hold" among analysts, with a target price of $33.00, while its stock is currently trading around $23.85.

Raymond James Financial Inc. increased its holdings in A-Mark Precious Metals, Inc. (NASDAQ:AMRK - Free Report) by 2,692.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 241,177 shares of the company's stock after purchasing an additional 232,539 shares during the quarter. Raymond James Financial Inc. owned 1.05% of A-Mark Precious Metals worth $6,119,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the business. Invesco Ltd. boosted 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 valued at $13,303,000 after acquiring an additional 286,512 shares in the last quarter. Nuveen LLC acquired a new position in A-Mark Precious Metals in the first quarter valued at approximately $6,350,000. Pacer Advisors Inc. bought a new position in shares of A-Mark Precious Metals in the first quarter worth $5,754,000. Ameriprise Financial Inc. purchased a new position in A-Mark Precious Metals during the 4th quarter worth approximately $5,059,000. Finally, Vanguard Group Inc. increased its holdings in shares of A-Mark Precious Metals by 12.4% in the 1st quarter. Vanguard Group Inc. now owns 1,152,737 shares of the company's stock valued at $29,245,000 after purchasing an additional 127,072 shares during the period. Institutional investors and hedge funds own 75.25% of the company's stock.

A-Mark Precious Metals Stock Up 1.1%

NASDAQ AMRK traded up $0.25 during mid-day trading on Monday, reaching $24.09. The stock had a trading volume of 140,334 shares, compared to its average volume of 252,705. The stock has a market cap of $593.19 million, a PE ratio of 16.23 and a beta of 0.16. The company has a fifty day moving average price of $22.72 and a 200 day moving average price of $23.36. 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, Inc. has a 1 year low of $19.39 and a 1 year high of $47.39.

A-Mark Precious Metals Dividend Announcement

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 yield of 3.3%. The ex-dividend date was Friday, July 18th. A-Mark Precious Metals's payout ratio is presently 54.05%.

Analyst Upgrades and Downgrades

Separately, 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. One investment analyst has rated the stock with a Buy rating and two have given a Hold rating to the company's stock. According to data from MarketBeat.com, A-Mark Precious Metals presently has an average rating of "Hold" and an average price target of $33.00.

A-Mark Precious Metals 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.