A-Mark Precious Metals executive sells over $4.1 million in company stock

A recent filing with the Securities and Exchange Commission reveals that Jeffrey D. Benjamin, a director at A-Mark Precious Metals, Inc. (NASDAQ:AMRK ), has sold a significant amount of company stock. The transactions occurred on September 18 and 19, 2024, with a total of 94,876 shares sold for over $4.1 million.

The sales were executed in multiple transactions, with shares being sold at prices ranging from $43.20 to $44.53. On September 18, Benjamin sold 33,100 shares at a weighted average price of $44.1674, while the following day saw the sale of 61,776 shares at an average price of $43.5776.

The transactions have reduced Benjamin's direct holdings in the company to zero, as indicated in the SEC filing. However, it is noted that shares are still held indirectly by the spouse's 2012 Family Trust. The filing also mentions that Benjamin has indirect ownership of 700,000 shares through the Jeffrey D. Benjamin 2012 Family Trust and direct ownership of 724,198 shares.

Investors often monitor insider sales as they can provide insights into an executive's view of the company's current valuation or future prospects. The details of these transactions, including the specific number of shares sold at each price point within the reported ranges, are available upon request from A-Mark Precious Metals, Inc. or the SEC.



In other recent news, A-Mark Precious Metals, a precious metals trading company, has been the focus of analyst attention. B.Riley has raised its stock price target for A-Mark Precious Metals to $44.00, up from $33.00, maintaining a Neutral rating. This adjustment follows a review of the company's annual report and an anticipation of increased demand for gold and silver products. The firm now expects A-Mark Precious Metals to achieve an adjusted EBITDA of $31.6 million and earnings per share (EPS) of $0.91 for the first quarter of fiscal year 2025.

Similarly, DA Davidson has also shown confidence in the company by raising its price target to $47 from $42, keeping a Buy rating. This optimism is based on A-Mark's performance and growth potential. The company's fiscal results for the year ending June 30, 2024, showed a net income of $66.2 million, with diluted earnings per share (EPS) of $2.75. After excluding a re-measurement gain from its investment in Silver Gold Bull, the diluted EPS was $2.15.

In other developments, A-Mark is considering expanding its market reach, potentially through a trading hub in Singapore. The company has also made strategic expansions 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 expenses and a 54% decrease in full-year EBITDA compared to the previous fiscal year, A-Mark remains optimistic about potential M&A opportunities and maintaining profitability.
InvestingPro Insights


A-Mark Precious Metals, Inc. (NASDAQ:AMRK) has recently seen a notable insider transaction, which might lead investors to scrutinize the company's financial health and market performance. In light of this, InvestingPro provides some key insights and data points that could help investors understand the company's current position.

InvestingPro Data shows A-Mark Precious Metals with a market capitalization of $1 billion and a Price to Earnings (P/E) Ratio of 14.65. The P/E Ratio is a crucial metric that investors use to determine the market's valuation of a company's earnings. In A-Mark's case, the P/E Ratio suggests the market has a relatively moderate valuation of its earnings.

Moreover, the company's revenue for the last twelve months as of Q4 2024 stands at $9.7 billion, with a revenue growth of 4.44%. This growth indicates that A-Mark has been expanding its top line, which could be a positive sign for investors looking for companies with increasing sales figures. However, it's important to note that the company's gross profit margin during the same period is 1.79%, which is considered low and could be a point of concern as it may indicate less efficiency in converting sales into actual profit.

InvestingPro Tips highlight that A-Mark's liquid assets exceed its short-term obligations, suggesting the company has a healthy liquidity position to meet its immediate financial commitments. Additionally, analysts predict the company will be profitable this year, which could provide some reassurance to investors concerned about the insider selling.

For investors seeking to delve deeper into A-Mark Precious Metals' performance and financials, there are additional InvestingPro Tips available on the platform at https://www.investing.com/pro/AMRK, which include observations on the stock's price movements relative to the market and its valuation multiples.

In summary, while the insider selling might raise questions, the data provided by InvestingPro offers a broader perspective on A-Mark Precious Metals' financial health and market performance, which investors should consider when evaluating the company's prospects.

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Source: Investing.com