Cynosure Group LLC Invests $373,000 in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Cynosure Group LLC purchased a new position in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) in the 3rd quarter, Holdings Channel.com reports. The firm purchased 8,441 shares of the company’s stock, valued at approximately $373,000.

Several other hedge funds have also recently added to or reduced their stakes in the company. SummerHaven Investment Management LLC lifted its stake in A-Mark Precious Metals by 2.1% in the 2nd quarter. SummerHaven Investment Management LLC now owns 18,958 shares of the company’s stock worth $614,000 after purchasing an additional 391 shares in the last quarter. Bard Associates Inc. increased its holdings in shares of A-Mark Precious Metals by 0.4% in the third quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock valued at $4,125,000 after purchasing an additional 396 shares during the last quarter. Quarry LP increased its holdings in shares of A-Mark Precious Metals by 94.1% in the second quarter. Quarry LP now owns 1,112 shares of the company’s stock valued at $36,000 after purchasing an additional 539 shares during the last quarter. Empowered Funds LLC lifted its position in A-Mark Precious Metals by 5.0% during the third quarter. Empowered Funds LLC now owns 16,858 shares of the company’s stock worth $744,000 after buying an additional 804 shares in the last quarter. Finally, Riverwater Partners LLC boosted its stake in A-Mark Precious Metals by 10.6% during the second quarter. Riverwater Partners LLC now owns 9,229 shares of the company’s stock worth $299,000 after buying an additional 881 shares during the last quarter. 75.25% of the stock is owned by institutional investors and hedge funds.

A-Mark Precious Metals Price Performance

NASDAQ:AMRK opened at $30.48 on Friday. A-Mark Precious Metals, Inc. has a 52 week low of $24.22 and a 52 week high of $47.39. The stock’s fifty day moving average is $37.93 and its two-hundred day moving average is $37.27. The company has a market capitalization of $706.53 million, a P/E ratio of 12.97 and a beta of -0.01. The company has a quick ratio of 0.37, a current ratio of 1.66 and a debt-to-equity ratio of 0.51.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings data on Thursday, August 29th. The company reported $0.85 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.44 by ($0.59). A-Mark Precious Metals had a return on equity of 10.93% and a net margin of 0.57%. The business had revenue of $2.52 billion for the quarter, compared to analyst estimates of $2.64 billion. Equities analysts expect that A-Mark Precious Metals, Inc. will post 3.54 EPS for the current year.

A-Mark Precious Metals Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, October 22nd. Shareholders of record on Tuesday, October 8th were given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.62%. The ex-dividend date of this dividend was Tuesday, October 8th. A-Mark Precious Metals’s dividend payout ratio is presently 34.04%.

Insider Activity

In other news, Director Michael R. Wittmeyer sold 25,841 shares of A-Mark Precious Metals stock in a transaction on Wednesday, September 18th. The stock was sold at an average price of $44.35, for a total value of $1,146,048.35. Following the completion of the sale, the director now directly owns 292,535 shares of the company’s stock, valued at approximately $12,973,927.25. The trade was a 8.12 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Kathleen Taylor-Simpson sold 25,000 shares of the business’s stock in a transaction on Wednesday, September 18th. The shares were sold at an average price of $43.98, for a total value of $1,099,500.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 110,316 shares of company stock valued at $4,911,036. Company insiders own 48.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on AMRK shares. StockNews.com downgraded A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. DA Davidson dropped their price objective on shares of A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating for the company in a report on Thursday, November 7th. One analyst has rated the stock with a sell rating, three have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $46.33.

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.