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Equity Actions

AEM

GDX

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GOLD

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Gold prices underperformed in the first half of 2023, with the SPDR Gold Trust (GLD) up by 5%, compared to the SPDR S&P 500 ETF Trust (SPY) and the Invesco QQQ Trust Series 1 (QQQ) which were up by 16% and 38% respectively. However, the VanEck Gold Miners ETF (GDX) is trading at a significant discount, attracting value hunters. Large-cap gold miners included in the GDX, such as Newmont Corporation (NEM), Barrick Gold Corp. (GOLD), and Agnico Eagle Mines Limited (AEM), are showing attractive valuations according to common stock metrics.

Portfolio Pulse from Piero Cingari

July 03, 2023 | 8:46 pm

CSGP

CoStar Gr Inc.'s (NASDAQ:CSGP) stock price is currently at $87.51, after a 1.67% drop. However, the stock has spiked by 6.32% over the past month, and by 41.44% over the past year. The company's P/E ratio of 97.81 is higher than the aggregate P/E ratio of 31.94 of the Professional Services industry, suggesting that the stock might be overvalued.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 8:06 pm

BLK

BTCUSD

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GBTC

Bernstein suggests that the U.S. Securities and Exchange Commission (SEC) may soon approve spot Bitcoin ETFs, despite its concerns about the reliability of spot exchanges like Coinbase Global Inc. The SEC has already approved futures-based Bitcoin ETFs. Last month, a BlackRock Inc unit submitted paperwork for a spot Bitcoin ETF, and Grayscale is also trying to transform its Bitcoin Trust into an ETF. The report concludes that the SEC would prefer a regulated Bitcoin ETF led by mainstream Wall Street participants.

Portfolio Pulse from Murtuza Merchant

July 03, 2023 | 7:34 pm

CPRT

Copart Inc.'s stock price is currently at $90.25, after a 1.05% decrease. However, over the past month, the stock has increased by 2.45%, and over the past year, it has increased by 60.76%. The company's P/E ratio is lower than the aggregate P/E of 54.6 of the Commercial Services & Supplies industry, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 7:04 pm

A significant number of investors have taken a bearish stance on Deere (NYSE:DE), with 55% of the investors opening trades with bearish expectations. The whales have been targeting a price range from $380.0 to $480.0 for Deere over the last 3 months. BMO Capital has maintained their Market Perform rating on Deere, with a price target of $425, while Canaccord Genuity downgraded its action to Buy with a price target of $530.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 5:33 pm

COST

A significant investor has taken a bearish stance on Costco Wholesale (NASDAQ:COST), with 60% of recent trades being bearish and 40% bullish. The trades range from $400.0 to $630.0. The current price of COST is $541.04, up 0.49%. Telsey Advisory Group, Oppenheimer, and Tigress Financial have given price targets of $540, $575, and $635 respectively.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 5:33 pm

AAPL

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COST

LOW

PEP

WMT

Apple Inc (AAPL) has surpassed the $3 trillion market capitalization mark for the second time, making it worth more than the combined value of five leading US retailers and two beverage giants. These include Amazon.com, Inc. (AMZN), Walmart Inc (WMT), Home Depot Inc (HD), Costco Wholesale Corporation (COST), Lowe’s Companies inc (LOW), Coca-Cola Co (KO), and PepsiCo, Inc. (PEP). Apple's stock has risen 54% in the first half of 2023 and is expected to continue performing well in the second half.

Portfolio Pulse from Chris Katje

July 03, 2023 | 5:23 pm

PFE

A significant bullish stance has been taken on Pfizer (NYSE:PFE) as evidenced by unusual options activity. The sentiment among these big-money traders is split between 70% bullish and 30% bearish. The whales have been targeting a price range from $30.0 to $43.0 for Pfizer over the last 3 months. Analysts from Cantor Fitzgerald and Credit Suisse have downgraded their actions on Pfizer with price targets of $75 and $40 respectively.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 5:03 pm

URI

A significant bullish stance has been taken on United Rentals (NYSE:URI) as evidenced by unusual options activity. The sentiment among these big-money traders is split between 63% bullish and 36% bearish. The whales have been targeting a price range from $300.0 to $480.0 for United Rentals over the last 3 months. Morgan Stanley has downgraded its action to Equal-Weight with a price target of $428.

Portfolio Pulse from Benzinga Insights

July 03, 2023 | 4:33 pm

ATTO

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U.S. stocks traded mixed with the Nasdaq Composite trading lower. The ISM manufacturing PMI in the U.S. declined to 46 in June from 46.9 in the prior month. Ensysce Biosciences, PolyMet Mining Corp., and Canopy Growth Corporation saw their shares rise, while Atento S.A., Tattooed Chef, Inc., and 22nd Century Group, Inc. saw their shares fall.

Portfolio Pulse from Lisa Levin

July 03, 2023 | 4:15 pm