MYDA Advisors LLC Makes New $3.60 Million Investment in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

MYDA Advisors LLC purchased a new stake in A-Mark Precious Metals, Inc. (NASDAQ:AMRK) during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the company’s stock, valued at approximately $3,600,000. A-Mark Precious Metals accounts for 1.0% of MYDA Advisors LLC’s investment portfolio, making the stock its 24th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wasatch Advisors Inc. bought a new position in A-Mark Precious Metals in the 1st quarter worth approximately $7,200,000. Renaissance Technologies LLC grew its stake in shares of A-Mark Precious Metals by 62.8% in the fourth quarter. Renaissance Technologies LLC now owns 221,292 shares of the company’s stock worth $5,676,000 after purchasing an additional 85,400 shares in the last quarter. EAM Investors LLC acquired a new position in shares of A-Mark Precious Metals during the first quarter valued at $1,401,000. Bank of New York Mellon Corp raised its stake in shares of A-Mark Precious Metals by 120.0% during the fourth quarter. Bank of New York Mellon Corp now owns 36,720 shares of the company’s stock valued at $942,000 after purchasing an additional 20,026 shares in the last quarter. Finally, BlackRock Inc. lifted its holdings in A-Mark Precious Metals by 7.8% in the first quarter. BlackRock Inc. now owns 274,371 shares of the company’s stock worth $9,877,000 after purchasing an additional 19,858 shares during the period. Institutional investors and hedge funds own 63.06% of the company’s stock.

Several equities analysts have commented on AMRK shares. DA Davidson initiated coverage on shares of A-Mark Precious Metals in a research note on Friday, March 19th. They set a “buy” rating and a $55.00 target price on the stock. Zacks Investment Research upgraded shares of A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research note on Tuesday, April 13th.

Shares of A-Mark Precious Metals stock traded down $0.12 during trading on Friday, hitting $49.02. The stock had a trading volume of 2,199 shares, compared to its average volume of 130,698. The firm’s fifty day simple moving average is $43.68. A-Mark Precious Metals, Inc. has a fifty-two week low of $16.72 and a fifty-two week high of $57.63. The stock has a market capitalization of $545.89 million, a price-to-earnings ratio of 3.15 and a beta of -0.40. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.55 and a current ratio of 1.25.

A-Mark Precious Metals (NASDAQ:AMRK) last issued its quarterly earnings results on Tuesday, May 11th. The company reported $8.84 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.88 by $5.96. A-Mark Precious Metals had a net margin of 1.78% and a return on equity of 77.15%. The company had revenue of $2.05 billion during the quarter, compared to the consensus estimate of $1.50 billion. On average, analysts predict that A-Mark Precious Metals, Inc. will post 15.39 earnings per share for the current year.

In related news, CFO Kathleen Taylor-Simpson sold 15,000 shares of A-Mark Precious Metals stock in a transaction on Friday, June 4th. The stock was sold at an average price of $50.26, for a total value of $753,900.00. Following the transaction, the chief financial officer now directly owns 5,000 shares in the company, valued at approximately $251,300. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder William A. Richardson sold 6,055 shares of the business’s stock in a transaction on Monday, June 7th. The stock was sold at an average price of $51.46, for a total value of $311,590.30. Following the sale, the insider now directly owns 446,862 shares in the company, valued at $22,995,518.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 75,722 shares of company stock valued at $3,967,738. Company insiders own 37.40% of the company’s stock.

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 Trading & Ancillary Services, Secured Lending, and Direct Sales. The company sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins, as well as markets precious metal products on television, radio, and the internet, as well as through telephonic sales.

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Institutional Ownership by Quarter for A-Mark Precious Metals (NASDAQ:AMRK)

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