A-Mark Precious Metals (NASDAQ:AMRK) Posts Earnings Results, Misses Estimates By $0.66 EPS

A-Mark Precious Metals (NASDAQ:AMRK) announced its earnings results on Friday. The company reported $0.20 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.66), reports. The company had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $2.67 billion. A-Mark Precious Metals had a net margin of 0.16% and a return on equity of 7.77%.

A-Mark Precious Metals Stock Up 1.2%

Shares of NASDAQ:AMRK traded up $0.30 during midday trading on Friday, hitting $25.29. 565,191 shares of the company’s stock were exchanged, compared to its average volume of 284,879. The company has a debt-to-equity ratio of 0.50, a current ratio of 1.56 and a quick ratio of 0.42. The stock has a 50 day moving average price of $26.34 and a 200-day moving average price of $23.65. The company has a market cap of $623.15 million, a PE ratio of 36.65 and a beta of 0.34. A-Mark Precious Metals has a 12 month low of $19.39 and a 12 month high of $32.90.

A-Mark Precious Metals Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 2nd. Stockholders of record on Wednesday, November 19th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.2%. The ex-dividend date is Wednesday, November 19th. A-Mark Precious Metals’s dividend payout ratio (DPR) is currently 115.94%.

Insider Buying and Selling

In related news, Director Moorhead John sold 2,600 shares of the stock in a transaction on Monday, September 15th. The stock was sold at an average price of $26.97, for a total value of $70,122.00. Following the completion of the sale, the director directly 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 transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 23.10% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Tower Research Capital LLC TRC boosted its holdings in A-Mark Precious Metals by 624.0% during the second quarter. Tower Research Capital LLC TRC now owns 2,143 shares of the company’s stock worth $48,000 after purchasing an additional 1,847 shares during the last quarter. Russell Investments Group Ltd. lifted its position in shares of A-Mark Precious Metals by 16,463.0% during the 2nd quarter. Russell Investments Group Ltd. now owns 7,619 shares of the company’s stock worth $169,000 after buying an additional 7,573 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of A-Mark Precious Metals by 4.9% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 10,531 shares of the company’s stock worth $267,000 after buying an additional 489 shares in the last quarter. Brevan Howard Capital Management LP purchased a new position in shares of A-Mark Precious Metals in the 2nd quarter worth approximately $419,000. Finally, Rhumbline Advisers grew its holdings in shares of A-Mark Precious Metals by 10.9% in the second quarter. Rhumbline Advisers now owns 30,966 shares of the company’s stock valued at $687,000 after acquiring an additional 3,039 shares in the last quarter. 75.25% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on AMRK shares. Roth Capital raised shares of A-Mark Precious Metals to a “strong-buy” rating in a research note on Wednesday, September 10th. DA Davidson reiterated a “buy” rating and issued a $29.00 target price on shares of A-Mark Precious Metals in a report on Wednesday, September 10th. Zacks Research raised A-Mark Precious Metals from a “hold” rating to a “strong-buy” rating in a research note on Thursday, September 11th. Finally, Weiss Ratings reaffirmed a “hold (c)” rating on shares of A-Mark Precious Metals in a research report on Tuesday, October 14th. Two equities research analysts have rated the stock with a Strong Buy rating, one has assigned a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat, A-Mark Precious Metals presently has a consensus rating of “Moderate Buy” and an average target price of $33.00.

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.