Massachusetts Financial Services Co. MA Sells 10,151 Shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

Massachusetts Financial Services Co. MA lessened its holdings in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK) by 27.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 26,245 shares of the company’s stock after selling 10,151 shares during the period. Massachusetts Financial Services Co. MA owned about 0.11% of A-Mark Precious Metals worth $1,159,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. Intech Investment Management LLC bought a new stake in shares of A-Mark Precious Metals in the 3rd quarter worth approximately $251,000. Advisors Asset Management Inc. purchased a new stake in A-Mark Precious Metals in the third quarter worth $356,000. Quest Partners LLC boosted its holdings in A-Mark Precious Metals by 748,300.0% in the third quarter. Quest Partners LLC now owns 7,484 shares of the company’s stock valued at $330,000 after acquiring an additional 7,483 shares in the last quarter. Empowered Funds LLC increased its position in A-Mark Precious Metals by 5.0% during the 3rd quarter. Empowered Funds LLC now owns 16,858 shares of the company’s stock valued at $744,000 after purchasing an additional 804 shares during the period. Finally, Bard Associates Inc. raised its holdings in A-Mark Precious Metals by 0.4% in the 3rd quarter. Bard Associates Inc. now owns 93,411 shares of the company’s stock worth $4,125,000 after purchasing an additional 396 shares in the last quarter. Institutional investors own 75.25% of the company’s stock.

A-Mark Precious Metals Price Performance

Shares of NASDAQ:AMRK opened at $30.48 on Thursday. The company has a market capitalization of $706.53 million, a PE ratio of 12.97 and a beta of -0.01. The business has a fifty day moving average price of $38.19 and a 200-day moving average price of $37.32. A-Mark Precious Metals, Inc. has a 1-year low of $24.22 and a 1-year high of $47.39. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.66 and a quick ratio of 0.37.

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

A-Mark Precious Metals Dividend Announcement

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

Insiders Place Their Bets

In other news, Director Michael R. Wittmeyer sold 10,975 shares of the firm’s stock in a transaction dated Friday, September 20th. The shares were sold at an average price of $43.30, for a total transaction of $475,217.50. Following the sale, the director now owns 292,535 shares of the company’s stock, valued at $12,666,765.50. This trade represents a 3.62 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gregory N. Roberts sold 4,320 shares of the business’s stock in a transaction that occurred on Friday, September 20th. The shares were sold at an average price of $44.00, for a total transaction of $190,080.00. Following the transaction, the chief executive officer now directly owns 28,202 shares of the company’s stock, valued at $1,240,888. The trade was a 13.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 110,316 shares of company stock valued at $4,911,036. Corporate insiders own 48.64% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. StockNews.com lowered shares of A-Mark Precious Metals from a “hold” rating to a “sell” rating in a research note on Friday, November 22nd. DA Davidson cut their price objective on A-Mark Precious Metals from $52.00 to $43.00 and set a “buy” rating on the stock in a research 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 company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target 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.