Key Points
- Tether Global Investments Fund purchased 530,338 shares of Gold.com on May 5 at an average price of $44.50, spending about $23.6 million and increasing its stake 18.67% to 3,370,787 shares (valued at roughly $150 million).
- Gold.com posted a sizable beat for the quarter with EPS $3.06 vs $1.44 expected and revenue of $10.35 billion versus $4.81 billion estimates, signaling stronger-than-expected results and improved profitability metrics.
- The board authorized a stock repurchase program allowing buybacks of up to 7.9% of shares and declared a $0.20 quarterly dividend (1.8% yield), with an ex-dividend date of May 20.
Gold.com Inc. (NYSE:GOLD - Get Free Report) major shareholder Tether Global Investments Fund purchased 530,338 shares of the stock in a transaction on Tuesday, May 5th. The stock was acquired at an average cost of $44.50 per share, for a total transaction of $23,600,041.00. Following the completion of the acquisition, the insider owned 3,370,787 shares of the company's stock, valued at $150,000,021.50. The trade was a 18.67% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.
Gold.com Stock Performance
NYSE:GOLD opened at $43.52 on Friday. Gold.com Inc. has a one year low of $19.39 and a one year high of $66.70. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.66 and a current ratio of 1.21. The stock has a market capitalization of $1.10 billion, a price-to-earnings ratio of 14.90 and a beta of 0.55. The firm has a fifty day simple moving average of $46.60.
Gold.com (NYSE:GOLD - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $1.62. Gold.com had a net margin of 0.35% and a return on equity of 19.12%. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $4.81 billion. As a group, equities research analysts predict that Gold.com Inc. will post 4.34 earnings per share for the current fiscal year.
Gold.com announced that its board has initiated a stock repurchase program on Wednesday, April 8th that permits the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization permits the company to purchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally an indication that the company's leadership believes its stock is undervalued.
Gold.com Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Stockholders of record on Wednesday, May 20th will be paid a dividend of $0.20 per share. This represents a $0.80 annualized dividend and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, May 20th. Gold.com's dividend payout ratio is presently 170.21%.
Analyst Ratings Changes
A number of research analysts recently weighed in on GOLD shares. DA Davidson reaffirmed a "buy" rating and issued a $60.00 price target on shares of Gold.com in a research note on Tuesday, April 28th. Roth Mkm set a $52.00 price target on shares of Gold.com in a research note on Thursday. Northland Securities raised shares of Gold.com from a "market perform" rating to an "outperform" rating and set a $57.00 price target on the stock in a research note on Friday, February 6th. Weiss Ratings raised shares of Gold.com from a "hold (c-)" rating to a "hold (c)" rating in a research note on Wednesday. Finally, Zacks Research downgraded shares of Gold.com from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to MarketBeat.com, Gold.com currently has an average rating of "Moderate Buy" and an average target price of $56.33.
View Our Latest Stock Report on GOLD
Institutional Investors Weigh In On Gold.com
Several institutional investors have recently modified their holdings of GOLD. Daytona Street Capital LLC purchased a new stake in shares of Gold.com during the 4th quarter worth $68,000. Massachusetts Financial Services Co. MA purchased a new stake in shares of Gold.com during the 4th quarter worth $890,000. State of Alaska Department of Revenue purchased a new stake in shares of Gold.com during the 4th quarter worth $44,000. CWM LLC purchased a new stake in shares of Gold.com during the 4th quarter worth $35,000. Finally, Nations Financial Group Inc. IA ADV purchased a new stake in shares of Gold.com during the 4th quarter worth $1,319,000. 62.85% of the stock is owned by hedge funds and other institutional investors.
About Gold.com
(
Get Free Report)
A-Mark Precious Metals, Inc, together with its subsidiaries, operates as a precious metals trading company. It operates in three segments: Wholesale Sales & Ancillary Services, Direct-to-Consumer, and Secured Lending. The Wholesale Sales & Ancillary Services segment sells gold, silver, platinum, and palladium in the form of bars, plates, powders, wafers, grains, ingots, and coins. This segment also offers various ancillary services, including financing, storage, consignment, logistics, and various customized financial programs; and designs and produces minted silver products.
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