Northland Securities Downgrades A-Mark Precious Metals (NASDAQ:AMRK) to Market Perform

A-Mark Precious Metals (NASDAQ:AMRK) was downgraded by equities research analysts at Northland Securities from an “outperform” rating to a “market perform” rating in a report released on Wednesday, Briefing.com reports.

AMRK has been the topic of several other research reports. DA Davidson increased their price target on A-Mark Precious Metals from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, April 10th. StockNews.com lowered shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a report on Tuesday. Finally, B. Riley cut their price target on shares of A-Mark Precious Metals from $41.00 to $33.00 and set a “buy” rating on the stock in a report on Wednesday, February 21st.

A-Mark Precious Metals Stock Performance

NASDAQ:AMRK opened at $40.34 on Wednesday. The company has a market cap of $921.77 million, a price-to-earnings ratio of 8.94 and a beta of -0.05. A-Mark Precious Metals has a 1 year low of $23.14 and a 1 year high of $42.48. The stock’s 50 day simple moving average is $33.35 and its two-hundred day simple moving average is $29.79. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.86 and a quick ratio of 0.32.

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

Insider Activity

In other A-Mark Precious Metals 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 value of $593,049.82. Following the completion of the sale, the director now directly owns 408,225 shares in the company, valued at approximately $10,732,235.25. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, Director Michael R. Wittmeyer sold 22,558 shares of the business’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $26.29, for a total value of $593,049.82. Following the completion of the sale, the director now owns 408,225 shares in the company, valued at approximately $10,732,235.25. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Gregory N. Roberts sold 8,696 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $25.30, for a total transaction of $220,008.80. Following the transaction, the chief executive officer now owns 28,202 shares in the company, valued at $713,510.60. The disclosure for this sale can be found here. Over the last quarter, insiders sold 53,637 shares of company stock valued at $1,396,360. Corporate insiders own 23.20% of the company’s stock.

Hedge Funds Weigh In On A-Mark Precious Metals

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. American Century Companies Inc. grew its stake in shares of A-Mark Precious Metals by 9.8% during the third quarter. American Century Companies Inc. now owns 1,684,735 shares of the company’s stock worth $49,413,000 after acquiring an additional 150,343 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of A-Mark Precious Metals by 48.9% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 384,799 shares of the company’s stock valued at $11,286,000 after buying an additional 126,385 shares during the last quarter. LSV Asset Management raised its position in A-Mark Precious Metals by 136.6% during the third quarter. LSV Asset Management now owns 192,105 shares of the company’s stock valued at $5,634,000 after acquiring an additional 110,905 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in A-Mark Precious Metals by 10.4% in the fourth 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 in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its stake in shares of A-Mark Precious Metals by 1,515.4% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 98,219 shares of the company’s stock valued at $2,881,000 after purchasing an additional 92,139 shares in the last quarter. Hedge funds and other institutional investors own 75.25% of the company’s stock.

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.