Zacks Research Downgrades A-Mark Precious Metals (NASDAQ:AMRK) to Hold

A-Mark Precious Metals (NASDAQ:AMRK) was downgraded by Zacks Research from a “strong-buy” rating to a “hold” rating in a note issued to investors on Monday,Zacks.com reports.

Several other brokerages also recently weighed in on AMRK. DA Davidson restated a “buy” rating and set a $29.00 price objective on shares of A-Mark Precious Metals in a research report on Wednesday, September 10th. Roth Capital upgraded A-Mark Precious Metals to a “strong-buy” rating in a report on Wednesday, September 10th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of A-Mark Precious Metals in a research note on Tuesday, October 14th. One analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, A-Mark Precious Metals currently has a consensus rating of “Moderate Buy” and an average price target of $33.00.

A-Mark Precious Metals Stock Down 3.4%

Shares of AMRK stock opened at $26.19 on Monday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.42 and a current ratio of 1.37. The firm’s 50-day moving average is $26.47 and its 200-day moving average is $23.66. The stock has a market cap of $645.43 million, a price-to-earnings ratio of 93.49 and a beta of 0.34. A-Mark Precious Metals has a 52-week low of $19.39 and a 52-week high of $31.64.

A-Mark Precious Metals (NASDAQ:AMRK) last announced its earnings results on Thursday, November 6th. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.66). The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $2.67 billion. A-Mark Precious Metals had a return on equity of 6.25% and a net margin of 0.06%. Sell-side analysts predict that A-Mark Precious Metals will post 2.11 EPS for the current year.

Insider Transactions at A-Mark Precious Metals

In other news, Director Moorhead John sold 2,600 shares of the company’s stock in a transaction on Monday, September 15th. The shares were sold at an average price of $26.97, for a total value of $70,122.00. Following the completion of the sale, the director owned 32,974 shares of the company’s stock, valued at approximately $889,308.78. This represents a 7.31% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 23.10% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in AMRK. MassMutual Private Wealth & Trust FSB lifted its position in A-Mark Precious Metals by 15,414.3% during the 3rd quarter. MassMutual Private Wealth & Trust FSB now owns 1,086 shares of the company’s stock valued at $28,000 after acquiring an additional 1,079 shares during the period. Jones Financial Companies Lllp bought a new position in shares of A-Mark Precious Metals during the 3rd quarter valued at $33,000. State of Alaska Department of Revenue bought a new position in shares of A-Mark Precious Metals in the 3rd quarter worth approximately $33,000. PNC Financial Services Group Inc. raised its holdings in A-Mark Precious Metals by 118.5% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,311 shares of the company’s stock worth $29,000 after purchasing an additional 711 shares during the period. Finally, Tower Research Capital LLC TRC increased its holdings in A-Mark Precious Metals by 624.0% in the 2nd quarter. Tower Research Capital LLC TRC now owns 2,143 shares of the company’s stock worth $48,000 after acquiring an additional 1,847 shares in the last quarter. 75.25% of the stock is owned by hedge funds and other institutional investors.

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.