A-Mark Precious Metals CEO Sells Over $1.5M in Stock Via Investing.com

In a recent financial move, Michael R. Wittmeyer, principal at A-Mark Precious Metals, Inc. (NASDAQ: ), has engaged in significant trading activity involving the Company’s stock. On September 17 and 18, Wittmeyer sold a total of 32,183 shares of A-Mark Precious Metals, totaling more than $1.5 million in transactions. The sales were made at different prices, ranging from $44.2975 to $45.2481 per share.

In addition to the sales, Wittmeyer purchased an additional 32,183 shares by exercising options at a set price of $17.87 per share, for a total of approximately $610,850. Trading took place over two days, with the executive purchasing 8,342 shares on the 17th and 23,841 shares on the 18th.

Following the series of transactions, Wittmeyer’s direct ownership of A-Mark Precious Metals was adjusted to reflect recent sales and purchases. The company, known for its wholesale trade in jewelry, watches, precious stones and metals, did not release any additional statements about the transactions.

Investors and market watchers often monitor insider trading activities like Wittmeyer’s for information about executive sentiment and the potential future performance of a company’s stock. Details of the sales, including the number of shares sold at each separate price in the reported range, have been documented and are available upon request as noted in the footnotes to the SEC filing.

A-Mark Precious Metals, Inc., headquartered in El Segundo, California, operates in the precious metals market and is incorporated in Delaware. The company’s fiscal year ends at the end of June.

In other recent news, A-Mark Precious Metals has seen significant developments in financial performance and strategic initiatives. The company’s net income for the fiscal year ended June 30, 2024 was reported at $66.2 million, with diluted earnings per share (EPS) of $2.75. After excluding a revaluation gain on its investment in Silver Gold Bull, diluted EPS was $2.15. Despite a 19% drop in fourth-quarter revenue to $2.52 billion, A-Mark ended the year with more than $3 million in direct-to-consumer customers and repurchased $22.4 million of its common stock.

DA Davidson maintained a buy rating on A-Mark Precious Metals, raising its price target to $47 from $42, citing the company’s performance and growth potential. The company’s revised price target is based on a multiple of 8.5 times calendar year 2025 earnings per share estimates.

In terms of strategic moves, A-Mark expanded into Asia with the acquisition of LPM and increased its investment in Silver Gold Bull Canada. The company is also considering setting up a shopping center in Singapore. However, it faced challenges such as a 25% rise in interest expenses due to higher interest rates and borrowings and a 54% decline in full-year EBITDA compared to the previous fiscal. Despite these challenges, A-Mark remains optimistic about its ability to generate shareholder value.

InvestingPro Insights

As investors digest recent insider trading activity from A-Mark Precious Metals, Inc. (NASDAQ:AMRK), it’s critical to consider the company’s broader financial picture. According to InvestingPro data, A-Mark Precious Metals currently has a market cap of $1.01 billion with a P/E ratio of 14.78, reflecting last year’s earnings. Notably, the company’s revenue for the trailing twelve months of Q4 2024 was approximately $9.7 billion, marking an increase of 4.44%. Despite this growth, the company’s gross profit margin looks relatively thin at 1.79%.

Two InvestingPro tips highlight aspects of A-Mark precious metals that investors may find relevant. First, the company trades at a low valuation multiple, which could suggest the stock is undervalued relative to its sales. Second, A-Mark’s liquid assets exceed its short-term liabilities, indicating a strong liquidity position that could provide financial flexibility and resilience. These factors may provide some context to recent insider trading and may be relevant to investors considering the stock’s future.

For those who want more detailed analysis and additional insights, InvestingPro offers a comprehensive list of tips. There are currently 12 InvestingPro tips available for A-Mark Precious Metals, which can be accessed by visiting the company’s dedicated page at: https://www.investing.com/pro/AMRK. These tips provide more in-depth analysis and could be valuable to investors who want to make informed decisions about their investments in AMRK.

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