Advisors Asset Management Inc. Takes $356,000 Position in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Advisors Asset Management Inc. acquired a new position in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 8,072 shares of the company’s stock, valued at approximately $356,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. SummerHaven Investment Management LLC lifted its holdings in shares of A-Mark Precious Metals by 2.1% in the second quarter. SummerHaven Investment Management LLC now owns 18,958 shares of the company’s stock valued at $614,000 after purchasing an additional 391 shares in the last quarter. Bard Associates Inc. lifted its stake in A-Mark Precious Metals by 0.4% in the 3rd quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock valued at $4,125,000 after acquiring an additional 396 shares in the last quarter. Quarry LP boosted its position in A-Mark Precious Metals by 94.1% during the 2nd quarter. Quarry LP now owns 1,112 shares of the company’s stock worth $36,000 after acquiring an additional 539 shares during the last quarter. Empowered Funds LLC grew its stake in shares of A-Mark Precious Metals by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,858 shares of the company’s stock worth $744,000 after acquiring an additional 804 shares in the last quarter. Finally, Riverwater Partners LLC raised its holdings in shares of A-Mark Precious Metals by 10.6% in the second quarter. Riverwater Partners LLC now owns 9,229 shares of the company’s stock valued at $299,000 after purchasing an additional 881 shares during the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

AMRK has been the subject of several recent research reports. DA Davidson reduced their target price on shares of A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 7th. StockNews.com cut A-Mark Precious Metals from a “hold” rating to a “sell” rating in a report on Friday, November 22nd. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $46.33.

A-Mark Precious Metals Stock Performance

NASDAQ AMRK opened at $30.48 on Friday. The firm has a market capitalization of $706.53 million, a P/E ratio of 12.97 and a beta of -0.01. The company has a current ratio of 1.66, a quick ratio of 0.37 and a debt-to-equity ratio of 0.51. The firm’s fifty day moving average price is $37.93 and its two-hundred day moving average price is $37.27. A-Mark Precious Metals, Inc. has a 1 year low of $24.22 and a 1 year high of $47.39.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its earnings results on Thursday, August 29th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.59). A-Mark Precious Metals had a net margin of 0.57% and a return on equity of 10.93%. The firm had revenue of $2.52 billion during the quarter, compared to the consensus estimate of $2.64 billion. As a group, research analysts anticipate that A-Mark Precious Metals, Inc. will post 3.54 EPS for the current year.

A-Mark Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, October 22nd. Stockholders of record on Tuesday, October 8th were given a $0.20 dividend. The ex-dividend date of this dividend was Tuesday, October 8th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. A-Mark Precious Metals’s payout ratio is 34.04%.

Insider Transactions at A-Mark Precious Metals

In other news, Director Michael R. Wittmeyer sold 10,975 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.30, for a total transaction of $475,217.50. Following the completion of the sale, the director now owns 292,535 shares in the company, valued at approximately $12,666,765.50. This trade represents a 3.62 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Gregory N. Roberts sold 22,000 shares of the company’s stock in a transaction dated Monday, September 16th. The shares were sold at an average price of $45.44, for a total transaction of $999,680.00. Following the completion of the transaction, the chief executive officer now owns 28,202 shares in the company, valued at approximately $1,281,498.88. This trade represents a 43.82 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 110,316 shares of company stock worth $4,911,036. 48.64% of the stock is 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.