A-Mark Precious Metals (NASDAQ:AMRK) Cut to “Sell” at StockNews.com

A-Mark Precious Metals (NASDAQ:AMRK) was downgraded by equities research analysts at StockNews.com from a “hold” rating to a “sell” rating in a research report issued to clients and investors on Wednesday.

Separately, DA Davidson dropped their price objective on shares of A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating on the stock in a research note on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $46.33.

A-Mark Precious Metals Trading Down 2.3 %

NASDAQ AMRK opened at $29.55 on Wednesday. A-Mark Precious Metals has a one year low of $24.22 and a one year high of $47.39. The company’s 50 day moving average price is $41.11 and its 200 day moving average price is $38.04. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.39 and a current ratio of 1.66. The firm has a market capitalization of $684.97 million, a price-to-earnings ratio of 12.81 and a beta of -0.01.

A-Mark Precious Metals (NASDAQ:AMRK) last posted its quarterly earnings results on Thursday, August 29th. The company reported $0.85 EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.52 billion during the quarter, compared to analysts’ expectations of $2.64 billion. On average, sell-side analysts predict that A-Mark Precious Metals will post 3.54 EPS for the current year.

Insider Transactions at A-Mark Precious Metals

In other news, CFO Kathleen Taylor-Simpson sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $43.98, for a total transaction of $1,099,500.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael R. Wittmeyer sold 25,841 shares of the firm’s stock in a transaction that occurred on Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total transaction of $1,146,048.35. Following the sale, the director now directly owns 292,535 shares of the company’s stock, valued at $12,973,927.25. The trade was a 8.12 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 110,316 shares of company stock valued at $4,911,036. 48.64% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its holdings in A-Mark Precious Metals by 1,714.4% in the third quarter. FMR LLC now owns 1,209,801 shares of the company’s stock worth $53,425,000 after purchasing an additional 1,143,125 shares during the period. Vanguard Group Inc. boosted its holdings in A-Mark Precious Metals by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,038,275 shares of the company’s stock worth $31,865,000 after purchasing an additional 6,544 shares during the period. CWA Asset Management Group LLC acquired a new position in A-Mark Precious Metals in the third quarter worth $11,741,000. Driehaus Capital Management LLC acquired a new position in A-Mark Precious Metals in the second quarter worth $5,702,000. Finally, Bank of New York Mellon Corp boosted its holdings in A-Mark Precious Metals by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 164,580 shares of the company’s stock worth $5,327,000 after purchasing an additional 10,673 shares during the period. Institutional investors and hedge funds own 75.25% of the company’s stock.

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.