Insider Buying: Gold.com (NYSE:GOLD) Major Shareholder Buys $3,930,000.00 in Stock

Key Points

• Tether Global Investments Fund purchased 100,000 Gold.com shares for $3.93 million, increasing its direct ownership by 50% to 300,000 shares.
• Gold.com’s latest quarter fell short of expectations, with EPS of $0.41 versus the $0.96 consensus and revenue of $5.01 billion versus $5.67 billion expected.
• The stock traded at $47.41, while analysts maintained a generally positive outlook with a “Moderate Buy” consensus and an average price target of $58; the company also declared a $0.20-per-share special dividend.

Gold.com Inc. (NYSE:GOLD - Get Free Report) major shareholder Tether Global Investments Fund bought 100,000 shares of the stock in a transaction dated Thursday, September 3rd. The shares were acquired at an average price of $39.30 per share, for a total transaction of $3,930,000.00. Following the completion of the purchase, the insider directly owned 300,000 shares in the company, valued at approximately $11,790,000. This trade represents a 50.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Major shareholders that own at least 10% of a company's shares are required to disclose their sales and purchases with the SEC.

Gold.com Stock Performance

GOLD traded up $1.28 during trading on Tuesday, hitting $47.41. 1,016,948 shares of the company traded hands, compared to its average volume of 614,937. Gold.com Inc. has a one year low of $22.00 and a one year high of $66.70. The stock's fifty day moving average is $42.62 and its 200 day moving average is $44.34. The company has a quick ratio of 0.29, a current ratio of 1.18 and a debt-to-equity ratio of 0.11. The firm has a market cap of $1.38 billion, a P/E ratio of 16.24 and a beta of 0.56.

Gold.com (NYSE:GOLD - Get Free Report) last announced its quarterly earnings data on Wednesday, September 2nd. The company reported $0.41 EPS for the quarter, missing the consensus estimate of $0.96 by ($0.55). Gold.com had a return on equity of 18.15% and a net margin of 0.32%.The company had revenue of $5.01 billion during the quarter, compared to the consensus estimate of $5.67 billion. During the same period in the prior year, the firm posted $0.41 EPS. As a group, equities analysts predict that Gold.com Inc. will post 3.73 EPS for the current fiscal year.

Gold.com Dividend Announcement

The company also recently disclosed a special dividend, which will be paid on Monday, September 28th. Shareholders of record on Wednesday, September 16th will be issued a dividend of $0.20 per share. The ex-dividend date of this dividend is Wednesday, September 16th. Gold.com's dividend payout ratio is 27.40%.

Hedge Funds Weigh In On Gold.com

A number of large investors have recently modified their holdings of GOLD. Swiss National Bank increased its holdings in Gold.com by 1.4% during the 1st quarter. Swiss National Bank now owns 36,500 shares of the company's stock worth $1,463,000 after acquiring an additional 500 shares during the period. CWM LLC purchased a new position in shares of Gold.com during the 4th quarter valued at $35,000. Larson Financial Group LLC bought a new position in shares of Gold.com in the fourth quarter worth $41,000. Caitong International Asset Management Co. Ltd bought a new stake in Gold.com during the fourth quarter valued at $42,000. Finally, Hsbc Holdings PLC boosted its stake in Gold.com by 16.9% during the first quarter. Hsbc Holdings PLC now owns 9,593 shares of the company's stock valued at $384,000 after buying an additional 1,390 shares during the period. 62.85% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several research firms have recently weighed in on GOLD. Canaccord Genuity Group cut their price target on Gold.com from $70.00 to $65.00 and set a "buy" rating for the company in a research note on Thursday, September 3rd. Zacks Research lowered shares of Gold.com from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, July 1st. Weiss Ratings reiterated a "hold (c+)" rating on shares of Gold.com in a research note on Monday, August 17th. Northland Securities set a $55.00 price target on shares of Gold.com in a research report on Thursday, September 3rd. Finally, DA Davidson reaffirmed a "buy" rating and issued a $60.00 price objective on shares of Gold.com in a report on Thursday, September 3rd. Four equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Gold.com currently has an average rating of "Moderate Buy" and a consensus price target of $58.00.

About Gold.com

Gold.com, Inc, together with its subsidiaries, operates as a precious metals company. It operates through 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 complementary services, such as receiving, handling, inventorying, processing, packing, and shipping of precious metals and custom coins on a secure basis; and designs and produces minted silver products.

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