A-Mark Precious Metals, Inc. (NASDAQ:AMRK) announced that its CEO, Gregory Roberts, sold 20,000 shares of the company’s stock on November 25, 2023. The shares were sold at an average price of $26.37, resulting in total proceeds of $527,400. Following this transaction, Roberts retains ownership of 28,202 shares, valued at approximately $743,686.74. This sale marks a significant reduction, representing a 41.49% decrease in his holdings.
The details of the transaction were made public through a filing with the Securities and Exchange Commission (SEC). As of Thursday, November 30, 2023, A-Mark Precious Metals shares opened at $27.27. The company’s stock performance indicates a 50-day moving average price of $26.62 and a 200-day moving average price of $23.85. A-Mark currently boasts a market capitalization of $672.04 million, a price-to-earnings (P/E) ratio of 97.39, and a beta of 0.34.
In the past year, the stock has fluctuated between a 12-month low of $19.39 and a high of $31.07. Key financial ratios include a current ratio of 1.37, a quick ratio of 0.58, and a debt-to-equity ratio of 0.42.
A-Mark Precious Metals recently reported its quarterly earnings on November 7, 2023. The company posted earnings per share (EPS) of $0.20, falling short of the consensus estimate of $0.86 by $0.66. Revenue for the quarter reached $3.68 billion, exceeding expectations of $2.67 billion. The company also recorded a return on equity of 6.25% and a net margin of 0.06%. Looking ahead, analysts project an EPS of $2.11 for the current fiscal year.
Investor Activity and Analyst Ratings
Recent changes in investor positions highlight a surge of interest in A-Mark Precious Metals. MassMutual Private Wealth & Trust FSB dramatically increased its stake by 15,414.3% during the third quarter, acquiring 1,086 shares worth $28,000. Similarly, PNC Financial Services Group Inc. raised its holdings by 118.5% in the second quarter, now owning 1,311 shares valued at $29,000. The State of Alaska Department of Revenue and Jones Financial Companies Lllp each established new positions valued at $33,000 in the third quarter. Overall, hedge funds and institutional investors own 75.25% of A-Mark shares.
Equity research firms have been active in assessing A-Mark’s stock. Zacks Research downgraded the company from a “strong-buy” to a “hold” rating on November 10, 2023. Conversely, Roth Capital upgraded A-Mark to a “strong-buy” rating on September 10, 2023. DA Davidson set a price target of $34.00 for the stock, while Weiss Ratings maintained a “hold (c-)” rating. Currently, one analyst has rated the stock as a Strong Buy, another as a Buy, and four have issued Hold ratings. According to MarketBeat, A-Mark Precious Metals holds an average rating of “Moderate Buy” with a target price of $34.67.
About A-Mark Precious Metals
A-Mark Precious Metals, Inc. operates as a trading company specializing in precious metals. The company functions through three primary segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment deals in gold, silver, platinum, and palladium, offering products in various forms including bars, plates, powders, wafers, grains, ingots, and coins.
For those interested in staying updated, A-Mark Precious Metals offers a daily email newsletter summarizing the latest news and analyst ratings, which can be accessed through their official website.
