Insider Buying: Gold.com (NYSE:GOLD) Major Shareholder Buys 56,590 Shares of Stock

Key Points

• Major shareholder Tether Global Investments Fund bought 56,590 shares of Gold.com at an average price of $40.57, increasing its ownership by 126.51% to 101,323 shares.
• GOLD has seen multiple recent insider purchases from the same fund, including buys on May 21, May 19, and May 5, signaling continued buying interest.
• Gold.com also reported strong quarterly results, beating earnings and revenue estimates, while the company maintains a dividend, share buyback authorization, and a consensus Moderate Buy rating from analysts.

Gold.com Inc. (NYSE:GOLD - Get Free Report) major shareholder Tether Global Investments Fund purchased 56,590 shares of the company's stock in a transaction on Wednesday, May 20th. The stock was purchased at an average price of $40.57 per share, with a total value of $2,295,856.30. Following the completion of the transaction, the insider owned 101,323 shares of the company's stock, valued at approximately $4,110,674.11. This trade represents a 126.51% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Large shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Tether Global Investments Fund also recently made the following trade(s):

• On Thursday, May 21st, Tether Global Investments Fund purchased 40,141 shares of Gold.com stock. The stock was purchased at an average price of $41.36 per share, with a total value of $1,660,231.76.
• On Tuesday, May 19th, Tether Global Investments Fund purchased 44,733 shares of Gold.com stock. The stock was purchased at an average price of $39.40 per share, with a total value of $1,762,480.20.
• On Tuesday, May 5th, Tether Global Investments Fund purchased 530,338 shares of Gold.com stock. The stock was purchased at an average price of $44.50 per share, with a total value of $23,600,041.00.

Gold.com Stock Performance

Shares of GOLD traded up $0.76 during mid-day trading on Thursday, reaching $41.77. The stock had a trading volume of 369,550 shares, compared to its average volume of 614,021. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 8.32 and a beta of 0.55. Gold.com Inc. has a 12 month low of $19.39 and a 12 month high of $66.70. The business's fifty day moving average price is $43.92. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 1.18.

Gold.com (NYSE:GOLD - Get Free Report) last posted its quarterly 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. 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 analyst estimates of $4.81 billion. On average, research analysts forecast that Gold.com Inc. will post 5.31 EPS for the current fiscal year.

Gold.com declared that its Board of Directors has authorized a share buyback program on Wednesday, April 8th that authorizes the company to buyback 2,000,000,000,000 shares. This buyback authorization authorizes the company to buy up to 7.9% of its stock through open market purchases. Stock buyback programs are usually an indication that the company's board believes its shares are undervalued.

Gold.com Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Monday, June 1st. Investors of record on Wednesday, May 20th will be given a dividend of $0.20 per share. The ex-dividend date is Wednesday, May 20th. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.9%. Gold.com's dividend payout ratio is currently 27.40%.

Wall Street Analyst Weigh In

GOLD has been the subject of a number of research reports. Roth Mkm set a $52.00 target price on shares of Gold.com in a research report on Thursday, May 7th. Weiss Ratings upgraded shares of Gold.com from a "hold (c-)" rating to a "hold (c)" rating in a research report on Wednesday, May 6th. DA Davidson reiterated a "buy" rating and set a $60.00 price objective on shares of Gold.com in a research report on Tuesday, April 28th. Zacks Research lowered shares of Gold.com from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, April 7th. Finally, Northland Securities upgraded shares of Gold.com from a "market perform" rating to an "outperform" rating and set a $57.00 price objective for the company in a research report on Friday, February 6th. Three investment analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, Gold.com currently has a consensus rating of "Moderate Buy" and an average price target of $56.33.

Institutional Investors Weigh In On Gold.com

Hedge funds and other institutional investors have recently made changes to their positions in the company. CWM LLC purchased a new stake in shares of Gold.com in the fourth quarter valued at $35,000. Larson Financial Group LLC purchased a new stake in shares of Gold.com in the fourth quarter valued at $41,000. Caitong International Asset Management Co. Ltd purchased a new stake in shares of Gold.com in the fourth quarter valued at $42,000. State of Alaska Department of Revenue purchased a new position in Gold.com in the 4th quarter worth about $44,000. Finally, New York State Teachers Retirement System purchased a new position in Gold.com in the 4th quarter worth about $55,000. Hedge funds and other institutional investors own 62.85% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.