A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Get Rating) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totalling 450,800 shares, a decrease of 23.8% from the August 15th total of 591,800 shares. Based on an average daily volume of 208,400 shares, the days-to-cover ratio is currently 2.2 days.
Hedge Funds Weigh In On A-Mark Precious Metals
Several hedge funds have recently added to or reduced their stakes in AMRK. Philadelphia Financial Management of San Francisco LLC increased its stake in A-Mark Precious Metals by 171.0% in the second quarter. Philadelphia Financial Management of San Francisco LLC now owns 749,303 shares of the company’s stock valued at $24,165,000 after purchasing an additional 472,807 shares during the last quarter. Jacobs Asset Management LLC increased its stake in A-Mark Precious Metals by 111.8% in the second quarter. Jacobs Asset Management LLC now owns 540,000 shares of the company’s stock valued at $17,415,000 after purchasing an additional 285,000 shares during the last quarter. Wellington Management Group LLP purchased a new position in A-Mark Precious Metals in the first quarter valued at approximately $19,975,000. State Street Corp increased its stake in 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 during the last quarter. Finally, CWA Asset Management Group LLC increased its stake in A-Mark Precious Metals by 99.9% in the second quarter. CWA Asset Management Group LLC now owns 379,043 shares of the company’s stock valued at $12,224,000 after purchasing an additional 189,438 shares during the last quarter. 59.78% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several analysts have recently issued reports on the stock. Northland Securities increased their price target on shares of A-Mark Precious Metals from $55.00 to $60.00 and gave the stock an “outperform” rating in a research report on Wednesday, May 25th. DA Davidson raised their target price on shares of A-Mark Precious Metals to $52.00 in a report on Tuesday, September 6th.
A-Mark Precious Metals Stock Down 4.3 %
Shares of NASDAQ:AMRK opened at $26.74 on Friday. The stock has a market cap of $625.26 million, a price-to-earnings ratio of 4.92 and a beta of -0.31. A-Mark Precious Metals has a fifty-two week low of $25.81 and a fifty-two week high of $44.60. The company has a quick ratio of 0.53, a current ratio of 1.41 and a debt-to-equity ratio of 0.19. The firm’s 50 day moving average price is $31.39 and its 200 day moving average price is $34.45.
A-Mark Precious Metals Announces Dividend
The business also recently declared a dividend, which will be paid on Monday, September 26th. Shareholders of record on Monday, September 12th will be paid a $1.00 dividend. The ex-dividend date of this dividend is Friday, September 9th. This represents a yield of 3.57%.
A-Mark Precious Metals Company Profile
A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in 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.
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