Gregory Roberts, the CEO of A-Mark Precious Metals (NASDAQ:AMRK), sold 20,000 shares of the company on November 25, 2023. The shares were sold at an average price of $26.37, totaling approximately $527,400.00. Following this transaction, Roberts now holds 28,202 shares in the firm, valued at around $743,686.74. This sale reflects a significant 41.49% decrease in his ownership stake.
The transaction has been officially documented with the Securities and Exchange Commission (SEC), providing transparency in the firm’s operations.
A-Mark Precious Metals Stock Performance
On the day following the sale, A-Mark’s stock opened at $27.27. The company has shown a 50-day moving average price of $26.62 and a 200-day moving average of $23.85. With a market capitalization of $672.04 million, A-Mark currently has a price-to-earnings (P/E) ratio of 97.39 and a beta of 0.34. The stock has fluctuated between a 12-month low of $19.39 and a high of $31.07. Its current ratio stands at 1.37, while the quick ratio is 0.58, and the debt-to-equity ratio is 0.42.
In its latest quarterly earnings report released on November 7, 2023, A-Mark reported earnings of $0.20 per share, missing analysts’ expectations of $0.86 by $0.66. The company recorded revenue of $3.68 billion, surpassing the consensus estimate of $2.67 billion. The return on equity was reported at 6.25%, with a net margin of 0.06%. Analysts predict A-Mark will generate an earnings per share (EPS) of $2.11 for the current fiscal year.
Investor Activity and Analyst Ratings
Recent changes in ownership have been observed among institutional investors. For instance, MassMutual Private Wealth & Trust FSB significantly increased its position by 15,414.3% during the third quarter, acquiring 1,086 shares valued at $28,000. Similarly, PNC Financial Services Group Inc. raised its stake by 118.5%, now holding 1,311 shares valued at $29,000.
Other noteworthy transactions include new positions taken by the State of Alaska Department of Revenue and Jones Financial Companies LLLP, each valued at $33,000. Additionally, Tower Research Capital LLC TRC expanded its position by 624.0%, now owning 2,143 shares worth approximately $48,000. Collectively, hedge funds and institutional investors own 75.25% of A-Mark’s stock.
Analysts have recently adjusted their ratings on A-Mark shares. Zacks Research downgraded the stock from a “strong-buy” to a “hold” rating, while Roth Capital upgraded it to “strong-buy.” DA Davidson set a price target of $34.00 for A-Mark shares, and Weiss Ratings maintained a “hold (c-)” rating. Currently, one analyst rates the stock as a strong buy, one as a buy, and four as hold, indicating a consensus rating of “Moderate Buy” with an average target price of $34.67.
A-Mark Precious Metals, Inc. operates as a precious metals trading company through three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales segment offers various precious metals, including gold, silver, platinum, and palladium, in multiple forms such as bars, coins, and grains.
