Gold.com (NYSE:GOLD) Cut to Hold at Zacks Research

Gold.com (NYSE:GOLD) was downgraded by equities research analysts at Zacks Research from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued reports about the stock. Canaccord Genuity Group began coverage on shares of Gold.com in a report on Tuesday, June 9th. They set a “buy” rating and a $70.00 price target on the stock. Roth Mkm set a $52.00 target price on Gold.com in a research report on Thursday, May 7th. Weiss Ratings upgraded Gold.com from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Finally, DA Davidson restated a “buy” rating and issued a $60.00 price objective on shares of Gold.com in a report on Tuesday, April 28th. Four investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, Gold.com presently has an average rating of “Moderate Buy” and an average target price of $59.75.

Gold.com Trading Up 3.1%

Shares of NYSE GOLD opened at $43.86 on Wednesday. The company has a debt-to-equity ratio of 0.11, a current ratio of 1.18 and a quick ratio of 0.29. Gold.com has a one year low of $20.55 and a one year high of $66.70. The business’s 50-day simple moving average is $42.58. The firm has a market cap of $1.27 billion, a price-to-earnings ratio of 15.02 and a beta of 0.55.

Gold.com (NYSE:GOLD) last posted its quarterly earnings results on Wednesday, May 6th. The company reported $3.06 earnings per share (EPS) 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. Research analysts anticipate that Gold.com will post 5.31 EPS for the current year.

Gold.com declared that its Board of Directors has approved a stock repurchase program on Wednesday, April 8th that permits the company to repurchase 2,000,000,000,000 outstanding shares. This repurchase authorization permits the company to buy up to 7.9% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board of directors believes its stock is undervalued.

Insider Transactions at Gold.com

In other news, CEO Gregory N. Roberts sold 40,000 shares of the firm’s 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 sale, the chief executive officer directly owned 28,202 shares of the company’s stock, valued at approximately $1,172,639.16. This trade represents a 58.65% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder Tether Global Investments Fund acquired 58,536 shares of the company’s stock in a transaction dated Friday, May 22nd. The stock was acquired at an average price of $43.11 per share, for a total transaction of $2,523,486.96. Following the completion of the purchase, the insider directly owned 200,000 shares of the company’s stock, valued at $8,622,000. This trade represents a 41.38% increase in their position. The disclosure for this purchase is available in the SEC filing. Insiders have acquired 730,338 shares of company stock valued at $31,842,096 over the last 90 days. Corporate insiders own 0.63% of the company’s stock.

Hedge Funds Weigh In On Gold.com

Several large investors have recently bought and sold shares of the stock. Charles Schwab Investment Management Inc. bought a new position in shares of Gold.com during the 4th quarter worth about $32,408,000. Jacobs Asset Management LLC bought a new position in Gold.com during the fourth quarter valued at about $10,215,000. Bard Associates Inc. acquired a new position in Gold.com in the 4th quarter valued at approximately $3,078,000. Gamco Investors INC. ET AL bought a new stake in shares of Gold.com in the 4th quarter worth approximately $1,083,000. Finally, Simcoe Capital LLC bought a new stake in shares of Gold.com during the fourth quarter valued at approximately $3,134,000. 62.85% of the stock is currently owned by institutional investors and hedge funds.

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.