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

Gold.com (NYSE:GOLD) was downgraded by stock 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. DA Davidson reaffirmed a “buy” rating and set a $60.00 price target on shares of Gold.com in a research note on Tuesday, April 28th. Weiss Ratings upgraded shares of Gold.com from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Canaccord Genuity Group started coverage on shares of Gold.com in a report on Tuesday, June 9th. They set a “buy” rating and a $70.00 target price for the company. Finally, Roth Mkm set a $52.00 target price on shares of Gold.com in a research report on Thursday, May 7th. Four equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, Gold.com currently has an average rating of “Moderate Buy” and an average target price of $59.75.

Gold.com Stock Performance

NYSE:GOLD opened at $43.86 on Wednesday. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.29 and a current ratio of 1.18. The company has a market capitalization of $1.27 billion, a P/E ratio of 15.02 and a beta of 0.55. Gold.com has a 52-week low of $20.55 and a 52-week high of $66.70. The stock’s 50-day moving average price is $42.58.

Gold.com (NYSE:GOLD) last announced its earnings results on Wednesday, May 6th. The company reported $3.06 earnings per share (EPS) for the quarter, beating 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, research analysts predict that Gold.com will post 5.31 earnings per share for the current fiscal year.

Gold.com announced that its Board of Directors has initiated a stock repurchase plan on Wednesday, April 8th that allows the company to buyback 2,000,000,000,000 shares. This buyback authorization allows the company to buy up to 7.9% of its shares through open market purchases. Shares buyback plans are generally a sign that the company’s board of directors believes its stock is undervalued.

Insiders Place Their Bets

In related news, major shareholder Tether Global Investments Fund acquired 530,338 shares of the company’s stock in a transaction dated Tuesday, May 5th. The shares were bought at an average cost of $44.50 per share, with a total value of $23,600,041.00. Following the completion of the transaction, the insider directly owned 3,370,787 shares of the company’s stock, valued at $150,000,021.50. This trade represents a 18.67% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 transaction of $1,663,200.00. Following the sale, the chief executive officer owned 28,202 shares of the company’s stock, valued at approximately $1,172,639.16. This represents a 58.65% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have acquired 730,338 shares of company stock valued at $31,842,096. Company insiders own 0.63% of the company’s stock.

Institutional Trading of Gold.com

Several hedge funds and other institutional investors have recently modified their holdings of the stock. CWM LLC bought a new position in Gold.com in the 4th quarter valued at about $35,000. Larson Financial Group LLC bought a new stake in shares of Gold.com during the fourth quarter worth approximately $41,000. Caitong International Asset Management Co. Ltd bought a new stake in shares of Gold.com during the fourth quarter worth approximately $42,000. State of Alaska Department of Revenue bought a new stake in shares of Gold.com during the fourth quarter worth approximately $44,000. Finally, New York State Teachers Retirement System acquired a new position in shares of Gold.com in the fourth quarter valued at approximately $55,000. 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.