A-Mark Precious Metals, Inc. (NASDAQ:AMRK) Sees Significant Growth in Short Interest

A-Mark Precious Metals, Inc. (NASDAQ:AMRK) was the recipient of a significant increase in short interest in April. As of April 15th, there was short interest totalling 4,140,000 shares, an increase of 37.1% from the March 31st total of 3,020,000 shares. Based on an average daily volume of 369,200 shares, the days-to-cover ratio is currently 11.2 days.

Insider Activity

In other news, Director Michael R. Wittmeyer sold 22,383 shares of the company’s stock in a transaction on Tuesday, February 13th. The stock was sold at an average price of $26.06, for a total transaction of $583,300.98. Following the transaction, the director now directly owns 453,283 shares of the company’s stock, valued at $11,812,554.98. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director Michael R. Wittmeyer sold 22,558 shares of the company’s stock in a transaction on Thursday, February 15th. The stock was sold at an average price of $26.29, for a total transaction of $593,049.82. Following the completion of the sale, the director now owns 408,225 shares in the company, valued at $10,732,235.25. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Michael R. Wittmeyer sold 22,383 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $26.06, for a total value of $583,300.98. Following the sale, the director now owns 453,283 shares of the company’s stock, valued at approximately $11,812,554.98. The disclosure for this sale can be found here. Insiders have sold a total of 53,637 shares of company stock valued at $1,396,360 over the last ninety days. 23.20% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On A-Mark Precious Metals

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC boosted its stake in A-Mark Precious Metals by 34.5% during the first quarter. Allspring Global Investments Holdings LLC now owns 201,108 shares of the company’s stock valued at $6,172,000 after buying an additional 51,531 shares during the last quarter. B. Riley Wealth Advisors Inc. lifted its stake in shares of A-Mark Precious Metals by 164.1% in the 4th quarter. B. Riley Wealth Advisors Inc. now owns 109,960 shares of the company’s stock valued at $3,326,000 after purchasing an additional 68,320 shares during the last quarter. CWA Asset Management Group LLC lifted its stake in shares of A-Mark Precious Metals by 1.3% in the 4th quarter. CWA Asset Management Group LLC now owns 424,079 shares of the company’s stock valued at $12,828,000 after purchasing an additional 5,437 shares during the last quarter. Campbell & CO Investment Adviser LLC bought a new stake in shares of A-Mark Precious Metals in the 4th quarter valued at approximately $714,000. Finally, Capstone Investment Advisors LLC bought a new stake in shares of A-Mark Precious Metals in the 4th quarter valued at approximately $220,000. 75.25% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. StockNews.com cut A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research report on Friday. B. Riley reduced their price target on A-Mark Precious Metals from $41.00 to $33.00 and set a “buy” rating for the company in a research report on Wednesday, February 21st. Finally, DA Davidson upped their price target on A-Mark Precious Metals from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, April 10th.

A-Mark Precious Metals Stock Performance

AMRK traded up $1.58 during midday trading on Friday, reaching $40.12. The company had a trading volume of 547,595 shares, compared to its average volume of 634,149. The company has a market cap of $916.74 million, a P/E ratio of 8.90 and a beta of 0.02. The company has a quick ratio of 0.32, a current ratio of 1.86 and a debt-to-equity ratio of 0.51. The business has a 50-day moving average of $31.17 and a two-hundred day moving average of $29.25. A-Mark Precious Metals has a 1 year low of $23.14 and a 1 year high of $42.48.

A-Mark Precious Metals (NASDAQ:AMRK) last released its quarterly earnings data on Tuesday, February 6th. The company reported $0.90 earnings per share for the quarter, missing analysts’ consensus estimates of $1.23 by ($0.33). The business had revenue of $2.08 billion during the quarter, compared to the consensus estimate of $2.25 billion. A-Mark Precious Metals had a return on equity of 26.90% and a net margin of 1.10%. As a group, equities research analysts predict that A-Mark Precious Metals will post 4.33 earnings per share for the current fiscal year.

A-Mark Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Monday, April 29th. Investors of record on Tuesday, April 16th will be paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 1.99%. The ex-dividend date is Monday, April 15th. A-Mark Precious Metals’s payout ratio is presently 17.74%.

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.