A-Mark Precious Metals CEO Sells Over $3.7M in Stock Via Investing.com

In a recent burst of trading activity, Michael R. Wittmeyer, principal at A-Mark Precious Metals, Inc. (NASDAQ: ), sold a significant portion of its holdings in the company. The transactions, which took place on September 19 and 20, involved the sale of more than $3.7 million worth of company stock.

Wittmeyer’s sales were made at weighted average prices that ranged from $43.2972 to $44.4024 per share. On September 19, it sold 67,213 shares at prices ranging from $43.25 to $44.24, as well as 7,629 shares at prices ranging from $44.29 to $44.435. The next day, it sold another 10,975 shares at prices ranging from $43.25 to $43.78. The total value of these sales amounted to approximately $3,768,038.

In addition to these sales, Wittmeyer also engaged in option exercises, purchasing a total of 84,817 shares of common stock at a set price of $17.87 per share, for a total of $1,515,549. These transactions reflect the exercise of options by the executive and do not represent open market purchases.

It is important to note that option sales and exercises are part of the standard transactions reported by corporate insiders, reflecting changes in their ownership of the company. Details of these transactions are disclosed to the public to ensure transparency and comply with regulatory requirements.

Investors and market watchers often monitor insider trading activity to gain insight into a company’s performance and management’s view of the company’s value. However, such transactions do not necessarily indicate a change in the company’s strategy or future performance.

A-Mark Precious Metals, based in El Segundo, California, specializes in wholesale jewelry, watches, gemstones and metals. The company has a strong presence in the precious metals market and offers a range of related services to its clients.

For those interested in the specifics of the trading activity, further details are available upon request, as Wittmeyer has undertaken to provide full information on the number of shares sold at each separate price in the reported ranges.

In other recent news, A-Mark Precious Metals has seen several developments. The company’s annual report led B.Riley to raise its target price from $33.00 to $44.00, maintaining a neutral rating. The firm anticipates increased demand for gold and silver products due to recent economic events and expects the company to achieve adjusted EBITDA of $31.6 million and earnings per share (EPS) of $0.91 in the first quarter of fiscal year 2025.

At the same time, DA Davidson showed confidence in A-Mark Precious Metals, raising its price target to $47 from $42 and maintaining a buy rating. The firm’s optimism is based on the company’s profitability and growth potential despite recent market challenges.

For the fiscal year ended June 30, 2024, A-Mark reported net income of $66.2 million, with diluted EPS of $2.75. However, 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 fiscal year with more than $3 million in direct-to-consumer customers and repurchased $22.4 million of its common stock.

Recent developments include A-Mark’s consideration of expanding its market reach, potentially through a shopping center in Singapore. The company also expanded into Asia with the acquisition of LPM and increased its investment in Silver Gold Bull Canada. Despite challenges such as a 25% increase in interest expense and a 54% decline in full-year EBITDA compared to the previous fiscal year, A-Mark remains optimistic about potential M&A opportunities and maintaining profitability.

InvestingPro Insights

Amid trading activity involving Michael R. Wittmeyer’s sale of shares of A-Mark Precious Metals, Inc. (NASDAQ:AMRK), current and potential investors may be looking for a deeper understanding of the company’s financial health and market performance. To that end, InvestingPro provides key metrics and insights that can shed light on recent financial trends and behavior of AMRK stock.

An InvestingPro tip points out that A-Mark Precious Metals traded at a low earnings multiple, suggesting the stock may be undervalued relative to its sales. This can be an attractive indicator for value investors looking for potential opportunities. Additionally, A-Mark Precious Metals has shown strong performance over the past month, with a 14.62% rise in its one-month total price return, which could reflect positively on investor sentiment towards the company. .

From real-time values ​​provided by InvestingPro, AMRK has a market cap of approximately $988.14 million, which gives an idea of ​​the company’s size and market value. The P/E ratio, a measure of the company’s current stock price relative to its earnings per share, is 14.46, indicating how much investors are willing to pay for a dollar of earnings. Moreover, the company’s revenue for the trailing twelve months of Q4 2024 is reported at USD 9699.04 million with a growth rate of 4.44% over the same period, which may signal steady business operations.

For investors seeking a more comprehensive analysis, InvestingPro provides additional advice on A-Mark Precious Metals, Inc., including information on gross profit margins, share price movements relative to the market and liquidity positions. In total, there are 11 more InvestingPro tips available that can be accessed to gain a fuller understanding of the company’s financial and market position. Visit InvestingPro for these tips and additional metrics at https://www.investing.com/pro/AMRK.

This article was generated with support from AI and reviewed by an editor. For more information, see T&C.