Empyrean Capital Partners LP Makes New Investment in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Empyrean Capital Partners LP purchased a new position in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) during the 2nd quarter, HoldingsChannel.com reports. The fund purchased 50,000 shares of the company’s stock, valued at approximately $1,618,000.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Dimensional Fund Advisors LP grew its stake in shares of A-Mark Precious Metals by 10.4% in the 4th quarter. Dimensional Fund Advisors LP now owns 1,129,775 shares of the company’s stock valued at $34,178,000 after buying an additional 106,842 shares during the period. B. Riley Wealth Advisors Inc. grew its position in A-Mark Precious Metals by 164.1% in the fourth quarter. B. Riley Wealth Advisors Inc. now owns 109,960 shares of the company’s stock worth $3,326,000 after acquiring an additional 68,320 shares during the period. Charles Schwab Investment Management Inc. increased its stake in A-Mark Precious Metals by 17.5% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 452,251 shares of the company’s stock worth $13,681,000 after acquiring an additional 67,452 shares during the last quarter. Evergreen Capital Management LLC raised its position in A-Mark Precious Metals by 359.3% in the second quarter. Evergreen Capital Management LLC now owns 82,093 shares of the company’s stock valued at $2,657,000 after purchasing an additional 64,221 shares during the period. Finally, CMC Financial Group purchased a new stake in A-Mark Precious Metals in the second quarter valued at $1,812,000. Institutional investors and hedge funds own 75.25% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on AMRK shares. StockNews.com upgraded A-Mark Precious Metals from a “sell” rating to a “hold” rating in a report on Tuesday. DA Davidson increased their target price on shares of A-Mark Precious Metals from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Thursday, September 5th. Four analysts have rated the stock with a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $47.67.

Insiders Place Their Bets

In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 4,320 shares of the firm’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $44.00, for a total value of $190,080.00. Following the completion of the transaction, the chief executive officer now owns 28,202 shares of the company’s stock, valued at approximately $1,240,888. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Gregory N. Roberts sold 4,320 shares of A-Mark Precious Metals stock in a transaction dated Friday, September 20th. The stock was sold at an average price of $44.00, for a total value of $190,080.00. Following the completion of the transaction, the chief executive officer now owns 28,202 shares in the company, valued at approximately $1,240,888. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Michael R. Wittmeyer sold 10,975 shares of the company’s stock in a transaction that occurred on Friday, September 20th. The stock was sold at an average price of $43.30, for a total transaction of $475,217.50. Following the sale, the director now owns 292,535 shares in the company, valued at $12,666,765.50. The disclosure for this sale can be found here. Insiders have sold a total of 110,316 shares of company stock worth $4,911,036 in the last ninety days. 23.20% of the stock is owned by corporate insiders.

A-Mark Precious Metals Trading Up 1.4 %

AMRK opened at $43.54 on Thursday. A-Mark Precious Metals, Inc. has a 52 week low of $23.14 and a 52 week high of $47.39. The company has a quick ratio of 0.39, a current ratio of 1.63 and a debt-to-equity ratio of 0.38. The business has a fifty day simple moving average of $38.77 and a 200-day simple moving average of $36.42. The firm has a market cap of $999.24 million, a P/E ratio of 13.36 and a beta of -0.05.

A-Mark Precious Metals (NASDAQ:AMRK) last announced its earnings results on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.59). The firm had revenue of $2.52 billion for the quarter, compared to analysts’ expectations of $2.64 billion. A-Mark Precious Metals had a net margin of 0.68% and a return on equity of 13.28%. On average, equities analysts expect that A-Mark Precious Metals, Inc. will post 4.29 earnings per share for the current year.

A-Mark Precious Metals Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 22nd. Investors of record on Tuesday, October 8th will be issued a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.84%. The ex-dividend date is Tuesday, October 8th. A-Mark Precious Metals’s dividend payout ratio (DPR) is currently 24.54%.

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.