Globeflex Capital L P Buys 36,826 Shares of Gold.com Inc. $GOLD

Key Points

• Globeflex Capital L P increased its stake in Gold.com by 115.3% in the first quarter, buying 36,826 additional shares and bringing its total to 68,773 shares worth about $2.76 million.
• Gold.com reported strong quarterly results, with earnings of $3.06 per share versus estimates of $1.44 and revenue of $10.35 billion, well above the consensus forecast.
• The company is also returning cash to shareholders through a quarterly dividend of $0.20 per share and a large share repurchase program authorized to buy back up to 7.9% of outstanding stock.

Globeflex Capital L P lifted its stake in shares of Gold.com Inc. (NYSE:GOLD - Free Report) by 115.3% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 68,773 shares of the company's stock after purchasing an additional 36,826 shares during the quarter. Globeflex Capital L P owned 0.24% of Gold.com worth $2,756,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Dimensional Fund Advisors LP bought a new stake in Gold.com during the fourth quarter worth about $40,273,000. Charles Schwab Investment Management Inc. bought a new position in Gold.com in the 4th quarter valued at about $32,408,000. Jacobs Levy Equity Management Inc. acquired a new position in shares of Gold.com in the 4th quarter valued at approximately $17,971,000. Geode Capital Management LLC acquired a new position in shares of Gold.com in the 4th quarter valued at approximately $15,790,000. Finally, State Street Corp acquired a new position in shares of Gold.com in the 4th quarter valued at approximately $15,019,000. Institutional investors own 62.85% of the company's stock.

Gold.com Trading Up 0.4%

Shares of Gold.com stock opened at $40.11 on Thursday. The firm's 50 day moving average is $41.33. The company has a market cap of $1.16 billion, a price-to-earnings ratio of 13.74 and a beta of 0.55. Gold.com Inc. has a 1 year low of $20.55 and a 1 year high of $66.70. The company has a quick ratio of 0.29, a current ratio of 1.18 and a debt-to-equity ratio of 0.11.

Gold.com (NYSE:GOLD - Get Free Report) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $3.06 EPS for the quarter, beating the consensus estimate of $1.44 by $1.62. Gold.com had a net margin of 0.35% and a return on equity of 17.82%. The business had revenue of $10.35 billion during the quarter, compared to the consensus estimate of $4.81 billion. As a group, research analysts anticipate that Gold.com Inc. will post 5.31 earnings per share for the current year.

Gold.com announced that its board has approved a stock 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 purchase up to 7.9% of its stock through open market purchases. Stock buyback programs are often an indication that the company's board of directors believes its shares are undervalued.

Gold.com Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Stockholders of record on Wednesday, May 20th were paid a $0.20 dividend. This represents a $0.80 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, May 20th. Gold.com's dividend payout ratio is presently 27.40%.

Insiders Place Their Bets

In other Gold.com news, CEO Gregory N. Roberts sold 40,000 shares of the stock in a transaction dated Wednesday, May 13th. The stock was sold at an average price of $41.58, for a total value of $1,663,200.00. Following the completion of the transaction, the chief executive officer directly owned 28,202 shares in the company, valued at approximately $1,172,639.16. This trade represents a 58.65% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Tether Global Investments Fund purchased 530,338 shares of the business's stock in a transaction dated Tuesday, May 5th. The shares were purchased at an average cost of $44.50 per share, for a total transaction of $23,600,041.00. Following the completion of the purchase, the insider directly owned 3,370,787 shares of the company's stock, valued at approximately $150,000,021.50. This represents a 18.67% increase in their position. The SEC filing for this purchase provides additional information. Insiders bought a total of 730,338 shares of company stock valued at $31,842,096 over the last quarter. 0.63% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently issued reports on GOLD. DA Davidson reiterated a "buy" rating and set a $60.00 price target on shares of Gold.com in a research report on Tuesday, April 28th. Roth Capital set a $52.00 price objective on shares of Gold.com in a research report on Thursday, May 7th. Zacks Research cut Gold.com from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Canaccord Genuity Group started coverage on Gold.com in a report on Tuesday, June 9th. They issued a "buy" rating and a $70.00 target price on the stock. Finally, Weiss Ratings raised Gold.com from a "hold (c)" rating to a "hold (c+)" rating in a report on Wednesday, May 20th. Four equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to MarketBeat.com, Gold.com has a consensus rating of "Moderate Buy" and an average target price of $59.75.

About Gold.com

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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