A-Mark Precious Metals (NASDAQ:AMRK) Shares Gap Up After Dividend Announcement

Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) gapped up before the market opened on Monday after the company announced a dividend. The stock had previously closed at $32.73, but opened at $35.12. A-Mark Precious Metals shares last traded at $36.02, with a volume of 259,021 shares traded.

The newly announced dividend which will be paid on Monday, April 29th. Stockholders of record on Tuesday, April 16th will be issued a $0.20 dividend. This represents a $0.80 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Monday, April 15th. A-Mark Precious Metals’s payout ratio is currently 17.74%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on AMRK shares. StockNews.com downgraded shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research report on Thursday, April 4th. B. Riley lowered their price target on 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. Finally, DA Davidson reaffirmed a “buy” rating and set a $42.00 price objective on shares of A-Mark Precious Metals in a research note on Monday, March 4th.

A-Mark Precious Metals Trading Down 3.3 %

The stock has a market capitalization of $862.36 million, a PE ratio of 8.37 and a beta of 0.02. The company has a debt-to-equity ratio of 0.51, a quick ratio of 0.32 and a current ratio of 1.86. The business’s 50-day moving average is $27.89 and its two-hundred day moving average is $28.33.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its earnings results on Tuesday, February 6th. The company reported $0.90 earnings per share for the quarter, missing the consensus estimate 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 firm had revenue of $2.08 billion during the quarter, compared to analysts’ expectations of $2.25 billion. As a group, equities research analysts anticipate that A-Mark Precious Metals, Inc. will post 4.33 earnings per share for the current year.

Insider Activity at A-Mark Precious Metals

In other news, CEO Gregory N. Roberts sold 8,696 shares of the stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $25.30, for a total transaction of $220,008.80. Following the completion of the transaction, the chief executive officer now directly owns 28,202 shares of the company’s stock, valued at approximately $713,510.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other A-Mark Precious Metals news, CEO Gregory N. Roberts sold 8,696 shares of the firm’s stock in a transaction on Thursday, February 29th. The stock was sold at an average price of $25.30, for a total value of $220,008.80. Following the completion of the sale, the chief executive officer now owns 28,202 shares of the company’s stock, valued at $713,510.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, 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 transaction, the director now directly owns 408,225 shares in the company, valued at $10,732,235.25. The disclosure for this sale can be found here. Insiders sold a total of 53,637 shares of company stock worth $1,396,360 over the last 90 days. Company insiders own 23.20% of the company’s stock.

Institutional Investors Weigh In On A-Mark Precious Metals

Several institutional investors have recently modified their holdings of AMRK. Wellington Management Group LLP purchased a new stake in shares of A-Mark Precious Metals in the 1st quarter worth about $19,975,000. State Street Corp lifted its holdings in shares of A-Mark Precious Metals by 115.0% in the second quarter. State Street Corp now owns 358,999 shares of the company’s stock valued at $11,578,000 after purchasing an additional 192,046 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of A-Mark Precious Metals by 156.4% in the second quarter. Renaissance Technologies LLC now owns 308,384 shares of the company’s stock valued at $9,945,000 after purchasing an additional 188,092 shares during the last quarter. Goldman Sachs Group Inc. grew its position in shares of A-Mark Precious Metals by 41.1% in the second quarter. Goldman Sachs Group Inc. now owns 541,611 shares of the company’s stock valued at $20,275,000 after purchasing an additional 157,750 shares during the last quarter. Finally, American Century Companies Inc. increased its stake in shares of A-Mark Precious Metals by 9.8% during the 3rd quarter. American Century Companies Inc. now owns 1,684,735 shares of the company’s stock worth $49,413,000 after purchasing an additional 150,343 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.