Key Points
- Tether Global Investments Fund bought 58,536 Gold.com shares at an average price of $43.11, spending about $2.52 million and boosting its stake by 41.38% to 200,000 shares.
- Gold.com reported strong quarterly earnings, posting $3.06 EPS versus analyst expectations of $1.44, along with revenue of $10.35 billion that also topped estimates.
- The company recently declared a quarterly dividend of $0.20 per share and has an active share repurchase program; analysts currently rate the stock a “Moderate Buy” with a consensus price target of $56.33.
Gold.com Inc. (NYSE:GOLD - Get Free Report) major shareholder Tether Global Investments Fund acquired 58,536 shares of the company's stock in a transaction dated Friday, May 22nd. The shares were bought at an average price of $43.11 per share, for a total transaction of $2,523,486.96. Following the purchase, the insider owned 200,000 shares in the company, valued at approximately $8,622,000. This represents a 41.38% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
Tether Global Investments Fund also recently made the following trade(s):
- On Thursday, May 21st, Tether Global Investments Fund acquired 40,141 shares of Gold.com stock. The shares were bought at an average price of $41.36 per share, for a total transaction of $1,660,231.76.
- On Wednesday, May 20th, Tether Global Investments Fund acquired 56,590 shares of Gold.com stock. The shares were bought at an average price of $40.57 per share, for a total transaction of $2,295,856.30.
- On Tuesday, May 19th, Tether Global Investments Fund acquired 44,733 shares of Gold.com stock. The shares were bought at an average price of $39.40 per share, for a total transaction of $1,762,480.20.
- On Tuesday, May 5th, Tether Global Investments Fund acquired 530,338 shares of Gold.com stock. The shares were bought at an average price of $44.50 per share, for a total transaction of $23,600,041.00.
Gold.com Stock Down 2.0%
Shares of Gold.com stock opened at $42.29 on Thursday. Gold.com Inc. has a 12-month low of $19.39 and a 12-month high of $66.70. The company has a market cap of $1.23 billion, a PE ratio of 14.48 and a beta of 0.55. The company has a current ratio of 1.18, a quick ratio of 0.29 and a debt-to-equity ratio of 0.11. The business's 50 day moving average is $43.50.
Gold.com (NYSE:GOLD - Get Free Report) last posted its earnings results on Wednesday, May 6th. The company reported $3.06 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $1.62. The business had revenue of $10.35 billion for the quarter, compared to analyst estimates of $4.81 billion. Gold.com had a return on equity of 17.82% and a net margin of 0.35%. On average, sell-side analysts expect that Gold.com Inc. will post 5.31 EPS for the current year.
Gold.com Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 20th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, May 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Gold.com's payout ratio is presently 27.40%.
Gold.com declared that its board has authorized a share repurchase program on Wednesday, April 8th that allows the company to buyback 2,000,000,000,000 outstanding shares. This buyback authorization allows the company to repurchase up to 7.9% of its shares through open market purchases. Shares buyback programs are generally a sign that the company's management believes its shares are undervalued.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Bank of America Corp DE grew its holdings in Gold.com by 116.8% in the 1st quarter. Bank of America Corp DE now owns 60,575 shares of the company's stock valued at $2,428,000 after buying an additional 32,637 shares in the last quarter. California State Teachers Retirement System grew its holdings in Gold.com by 69.2% in the 1st quarter. California State Teachers Retirement System now owns 29,031 shares of the company's stock valued at $1,164,000 after buying an additional 11,871 shares in the last quarter. Empowered Funds LLC grew its holdings in Gold.com by 42.5% in the 1st quarter. Empowered Funds LLC now owns 277,029 shares of the company's stock valued at $11,103,000 after buying an additional 82,637 shares in the last quarter. The Manufacturers Life Insurance Company acquired a new position in Gold.com in the 1st quarter valued at $358,000. Finally, Quantinno Capital Management LP grew its holdings in Gold.com by 424.5% in the 1st quarter. Quantinno Capital Management LP now owns 43,547 shares of the company's stock valued at $1,745,000 after buying an additional 35,244 shares in the last quarter. 62.85% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of research firms recently weighed in on GOLD. Zacks Research lowered Gold.com from a "strong-buy" rating to a "hold" rating in a report on Tuesday, April 7th. Weiss Ratings raised Gold.com from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. Northland Securities raised Gold.com from a "market perform" rating to an "outperform" rating and set a $57.00 target price on the stock in a report on Friday, February 6th. DA Davidson reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Gold.com in a report on Tuesday, April 28th. Finally, Roth Mkm set a $52.00 price objective on Gold.com in a report on Thursday, May 7th. Three research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $56.33.
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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.
Further Reading
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