LSV Asset Management reduces stake in A-Mark Precious Metals, Inc. (NASDAQ:AMRK)

VaselineSeptember 12, 2024

0 3 minutes read

LSV Asset Management reduced its stake in shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK – Free Report) by 25.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 143,228 shares of the company’s stock after selling 48,877 shares during the period. LSV Asset Management owned 0.63% of A-Mark Precious Metals worth $4,636,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its holdings in A-Mark Precious Metals by 10.4% during the fourth quarter. Dimensional Fund Advisors LP now owns 1,129,775 shares of the company’s stock valued at $34,178,000 after buying an additional 106,842 shares during the period. Vanguard Group Inc. raised its holdings in A-Mark Precious Metals by 0.6% in the first quarter. Vanguard Group Inc. now owns 1,038,275 shares of the company’s stock worth $31,865,000 after acquiring an additional 6,544 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in A-Mark Precious Metals by 17.5% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 452,251 shares of the company’s stock valued at $13,681,000 after acquiring an additional 67,452 shares during the period. CWA Asset Management Group LLC boosted its holdings in A-Mark Precious Metals by 1.3% during the fourth quarter. CWA Asset Management Group LLC now owns 424,079 shares of the company’s stock valued at $12,828,000 after purchasing an additional 5,437 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in A-Mark Precious Metals by 34.5% in the first quarter. Allspring Global Investments Holdings LLC now owns 201,108 shares of the company’s stock worth $6,172,000 after purchasing an additional 51,531 shares during the period. Hedge funds and other institutional investors own 75.25% of the company’s shares.

The Wall Street analyst weighs in

Several analysts have recently issued reports on AMRK shares. DA Davidson upped their target price on shares of A-Mark Precious Metals from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Thursday, September 5th. Maxim Group began coverage on A-Mark Precious Metals in a report on Wednesday, May 22nd. They issued a “buy” rating and a $63.00 price target for the company. StockNews.com upgraded A-Mark Precious Metals from a “sell” rating to a “hold” rating in a research report on Friday, August 30th. Finally, B. Riley lowered A-Mark Precious Metals from a “buy” rating to a “neutral” rating and set a $33.00 price objective on the stock. in a report on Wednesday, May 15. Four research analysts have rated the stock with a hold rating and two have issued a buy rating to the company. The stock has a consensus rating of “Hold” and a consensus price target of $47.67, according to MarketBeat.com.

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See our latest report on AMRK

A-Mark Precious Metals Trading Up 0.9%

Shares of A-Mark Precious Metals stock opened at $44.13 on Thursday. A-Mark Precious Metals, Inc. has a 12-month low of $23.14 and a 12-month high of $44.30. The company has a market cap of $1.01 billion, a price-to-earnings ratio of 13.54 and a beta of -0.05. The company has a current ratio of 1.76, a quick ratio of 0.34, and a debt-to-equity ratio of 0.50. The company’s 50-day moving average price is $36.94 and its 200-day moving average price is $35.22.

A-Mark Precious Metals Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, July 31st. Stockholders of record on Thursday, July 18th were issued a $0.20 dividend. This represents a dividend of $0.80 on an annualized basis and a dividend yield of 1.81%. The ex-dividend date was Thursday, July 18. A-Mark Precious Metals’ payout ratio is 24.54%.

About A-Mark Precious Metals

(Free Report)

A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates through three segments: Wholesale and Ancillary Services, Direct-to-Consumer and Secured Lending. The Wholesale and Ancillary Services segment sells gold, silver, platinum and palladium in the form of bars, plates, powders, wafers, grains, ingots and coins.