Principal Financial Group Inc. bought a new stake in Gold.com Inc. (NYSE:GOLD – Free Report) in the first quarter, Holdings Channel reports. The institutional investor bought 29,895 shares of the company’s stock, valued at approximately $1,198,000.
Other institutional investors and hedge funds have also modified their holdings of the company. Charles Schwab Investment Management Inc. bought a new stake in Gold.com during the 4th quarter worth approximately $32,408,000. Jacobs Asset Management LLC bought a new position in Gold.com in the 4th quarter valued at $10,215,000. Bard Associates Inc. bought a new position in Gold.com in the 4th quarter valued at $3,078,000. Gamco Investors INC. ET AL acquired a new position in Gold.com in the fourth quarter worth $1,083,000. Finally, Simcoe Capital LLC acquired a new position in Gold.com in the fourth quarter worth $3,134,000. 62.85% of the stock is owned by institutional investors and hedge funds.
Gold.com Stock Down 1.7%
NYSE:GOLD opened at $41.36 on Friday. The stock’s fifty day moving average price is $41.32 and its two-hundred day moving average price is $45.50. Gold.com Inc. has a 52-week low of $20.55 and a 52-week high of $66.70. 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 cap of $1.20 billion, a price-to-earnings ratio of 14.16 and a beta of 0.55.
Gold.com Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Monday, June 1st. Investors of record on Wednesday, May 20th were issued a $0.20 dividend. The ex-dividend date was Wednesday, May 20th. This represents a $0.80 annualized dividend and a yield of 1.9%. Gold.com’s dividend payout ratio (DPR) is currently 27.40%.
Gold.com announced that its Board of Directors has approved a stock repurchase program 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 stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
Analyst Upgrades and Downgrades
GOLD has been the topic of several research analyst reports. Canaccord Genuity Group assumed coverage on Gold.com in a report on Tuesday, June 9th. They set a “buy” rating and a $70.00 target price on the stock. Weiss Ratings raised Gold.com from a “hold (c)” rating to a “hold (c+)” rating in a report on Wednesday, May 20th. Roth Capital set a $52.00 price target on shares of Gold.com in a research report on Thursday, May 7th. Zacks Research lowered shares of Gold.com from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, DA Davidson restated a “buy” rating and issued a $60.00 price objective on shares of Gold.com in a research report on Tuesday, April 28th. Four research 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 has an average rating of “Moderate Buy” and an average price target of $59.75.
Get Our Latest Analysis on Gold.com
Insider Activity
In other Gold.com news, CEO Gregory N. Roberts sold 40,000 shares of the business’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 completion of the sale, the chief executive officer directly owned 28,202 shares of the company’s stock, valued at approximately $1,172,639.16. The trade was a 58.65% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Tether Global Investments Fund bought 530,338 shares of the business’s stock in a transaction on Tuesday, May 5th. The shares were acquired at an average price of $44.50 per share, for a total transaction of $23,600,041.00. Following the completion of the transaction, the insider owned 3,370,787 shares in the company, valued at approximately $150,000,021.50. This trade represents a 18.67% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last quarter, insiders purchased 730,338 shares of company stock worth $31,842,096. 0.63% of the stock is owned by company insiders.
Gold.com Profile
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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