A recent filing with the Securities and Exchange Commission has revealed that Michael R. Wittmeyer, a director at A-Mark Precious Metals, Inc. (NASDAQ:AMRK), sold a substantial number of shares in the company. The transactions, which took place on May 13, 2024, involved the sale of 18,448 shares at a weighted average price of $37.6343, resulting in a total sale value of approximately $694,277.
The SEC filing indicates that the shares were sold in multiple transactions at prices ranging from $37.50 to $38.06. After the sale, Wittmeyer's holdings in A-Mark Precious Metals have decreased to 329,502 shares of common stock.
It's worth noting that no purchases of stock were reported in the same filing period. The report also included a transaction coded as "G," which typically denotes a gift of shares; however, this transaction involved no monetary exchange and thus did not affect the financial calculations of the reported sales.
Investors often monitor insider buying and selling as it can provide insights into an executive's perspective on the company's current valuation and future prospects. The details of the transactions, including the number of shares sold at each separate price within the provided range, can be made available upon request to the company, any security holder of A-Mark, or the staff of the Securities and Exchange Commission.
A-Mark Precious Metals, Inc., based in El Segundo, California, is a company that operates in the wholesale jewelry, watches, precious stones, and metals industry. The company's fiscal year ends on June 30, and it is incorporated in Delaware.
The SEC filing was signed on behalf of Michael R. Wittmeyer by Carol Meltzer, by power of attorney, on May 14, 2024.
InvestingPro Insights
Following the recent news of insider selling at A-Mark Precious Metals, Inc. (NASDAQ:AMRK), investors might be interested in the company's financial health and market performance. A-Mark Precious Metals has a market capitalization of approximately $911.21 million, reflecting its standing in the wholesale jewelry and precious metals industry. With a P/E ratio of 11.58 and an adjusted P/E ratio for the last twelve months as of Q3 2024 at 11.16, the stock shows a valuation that could be appealing to value-oriented investors.
Despite concerns about insider transactions, A-Mark Precious Metals has shown resilience in its share price, with a significant 43.2% three-month price total return as of the latest data. This performance is particularly noteworthy given that the stock has experienced a large price uptick over the last six months, with a return of 42.87%. Additionally, the company boasts a robust dividend yield of 4.85%, which could attract income-seeking shareholders.
InvestingPro Tips highlight that A-Mark Precious Metals has suffered from weak gross profit margins, with the latest figures showing a margin of just 2.03%. However, the company has been profitable over the last twelve months, and analysts predict it will continue to be profitable this year. This suggests that while there may be areas of financial tightening needed, the overall health of the company remains stable.
For investors seeking more in-depth analysis, there are additional InvestingPro Tips available, which can provide further insights into A-Mark Precious Metals' stock performance and financial metrics. By using the coupon code PRONEWS24, readers can get an additional 10% off a yearly or biyearly Pro and Pro+ subscription, unlocking access to a wealth of expert financial data and analysis. For more details on these additional tips, visit https://www.investing.com/pro/AMRK.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.