Vanguard Group Inc. Grows Stake in A-Mark Precious Metals Inc (AMRK)
Vanguard Group Inc. increased its stake in shares of A-Mark Precious Metals Inc (NASDAQ:AMRK) by 0.2% in the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 199,747 shares of the company’s stock after purchasing an additional 300 shares during the period. Vanguard Group Inc. owned approximately 2.84% of A-Mark Precious Metals worth $3,284,000 as of its most recent filing with the Securities & Exchange Commission.
Several other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wedbush Securities Inc. increased its holdings in A-Mark Precious Metals by 52.5% during the second quarter. Wedbush Securities Inc. now owns 25,162 shares of the company’s stock valued at $412,000 after buying an additional 8,662 shares during the last quarter. Bank of New York Mellon Corp purchased a new stake in A-Mark Precious Metals during the first quarter valued at approximately $180,000. William Blair Investment Management LLC increased its holdings in A-Mark Precious Metals by 10.5% during the second quarter. William Blair Investment Management LLC now owns 196,332 shares of the company’s stock valued at $3,217,000 after buying an additional 18,585 shares during the last quarter. Shufro Rose & Co. LLC increased its holdings in A-Mark Precious Metals by 4.0% during the second quarter. Shufro Rose & Co. LLC now owns 215,750 shares of the company’s stock valued at $3,535,000 after buying an additional 8,200 shares during the last quarter. Finally, Wells Fargo & Company MN increased its holdings in A-Mark Precious Metals by 1,110,000.0% during the second quarter. Wells Fargo & Company MN now owns 11,101 shares of the company’s stock valued at $182,000 after buying an additional 11,100 shares during the last quarter. 19.66% of the stock is owned by hedge funds and other institutional investors.
AMRK has been the subject of a number of research reports. B. Riley reduced their target price on shares of A-Mark Precious Metals from $19.00 to $17.50 and set a “neutral” rating for the company in a report on Wednesday, November 15th. Zacks Investment Research raised shares of A-Mark Precious Metals from a “sell” rating to a “hold” rating in a report on Tuesday, November 14th. Finally, dropped their price target on shares of A-Mark Precious Metals from $19.00 to $17.50 and set a “neutral” rating for the company in a research report on Wednesday, November 15th. Three analysts have rated the stock with a hold rating, one has issued a buy rating and one has assigned a strong buy rating to the company’s stock. A-Mark Precious Metals presently has a consensus rating of “Buy” and a consensus price target of $19.77.
In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 3,300 shares of the company’s stock in a transaction that occurred on Thursday, October 19th. The shares were sold at an average price of $16.37, for a total value of $54,021.00. Following the completion of the transaction, the chief executive officer now directly owns 26,056 shares in the company, valued at $426,536.72. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Over the last quarter, insiders sold 9,200 shares of company stock valued at $148,879. Company insiders own 38.80% of the company’s stock.
A-Mark Precious Metals Inc (AMRK) opened at $14.16 on Tuesday. The firm has a market cap of $98.76, a P/E ratio of 18.05 and a beta of 0.02. A-Mark Precious Metals Inc has a 12-month low of $13.95 and a 12-month high of $21.66. The company has a debt-to-equity ratio of 0.09, a current ratio of 1.11 and a quick ratio of 0.39.
A-Mark Precious Metals (NASDAQ:AMRK) last posted its quarterly earnings results on Tuesday, September 12th. The company reported $0.17 earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.27 by ($0.10). The firm had revenue of $1.33 billion during the quarter, compared to the consensus estimate of $1.81 billion. A-Mark Precious Metals had a return on equity of 7.75% and a net margin of 0.08%. sell-side analysts anticipate that A-Mark Precious Metals Inc will post 0.43 EPS for the current year.
The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 13th. Shareholders of record on Friday, November 24th will be given a $0.08 dividend. The ex-dividend date is Wednesday, November 22nd. This represents a $0.32 dividend on an annualized basis and a dividend yield of 2.26%. A-Mark Precious Metals’s payout ratio is currently 34.41%.
A-Mark Precious Metals Profile
A-Mark Precious Metals, Inc is a precious metal trading company. The Company is a wholesaler of gold, silver, platinum and palladium bullion and related products, including bars, wafers, grain and coins. It distributes gold and silver coins and bars from sovereign and private mints; provides financing for the purchase of bullion and numismatics; offers storage for bullion, and offers complementary products, such as consignment, customized finance and liquidity programs, such as repurchase (Repo) accounts, and trade quotes in a variety of foreign currencies.
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