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U.S. Global Investors, Inc. (NASDAQ: GROW) is an innovative investment manager with a deep-seated history in global markets and specialized sectors. Founded in 1968 as an investment club, it transformed into a registered investment adviser and has since pioneered first-of-their-kind investment products. Headquartered in San Antonio, Texas, U.S. Global Investors is publicly traded on NASDAQ.
The company’s core expertise lies in gold and precious metals, natural resources, and emerging markets. Led by CEO Frank Holmes since 1989, the firm offers investment advisory services to its own funds and ETFs. Notably, it manages the U.S. Global GO GOLD and Precious Metal Miners ETF (NYSE: GOAU) and U.S. Global Jets ETF (NYSE: JETS), which are prominent products in their respective markets.
In recent developments, U.S. Global Investors announced a positive outlook for airlines and gold sectors as of the end of 2023, reflecting rising air travel during the Thanksgiving period and a strong uptick in gold prices due to economic uncertainties. The U.S. Global Jets ETF saw a notable increase in net inflows, while the gold market responded well to geopolitical tension and monetary policies.
Financial Condition: As of the latest quarterly report, the company had a net working capital of approximately $38.6 million and total assets of $54.1 million. The company derives all its revenue from investment management services, and its latest earnings report highlighted a significant increase in net investment income.
Recent corporate actions include the company's strategic share buyback program, under which it repurchased a considerable number of its own shares, reflecting a commitment to returning value to shareholders. Moreover, the company has a history of maintaining a robust shareholder yield, combining dividends and share repurchases.
U.S. Global Investors also expanded its product reach by listing the GOAU ETF on Peru’s Bolsa de Valores de Lima, enhancing its global footprint. Another notable achievement was the merger of its Europe-domiciled airlines ETF into the Travel UCITS ETF (TRIP), broadening its investment scope to include the cruise industry, which has shown strong post-pandemic recovery.
With a diversified portfolio, a history of innovative product launches, and a solid financial footing, U.S. Global Investors continues to leverage its expertise to navigate and capitalize on market opportunities.
U.S. Global Investors, Inc. (GROW) held its annual shareholder meeting on June 15, 2022, in San Antonio, TX, where the company's strong performance was highlighted. CEO Frank Holmes reported that GROW has outperformed the Dow Jones U.S. Small Cap Asset Managers Index both year-to-date and over five years. The company increased its share repurchase program by 82% to $5 million, buying back over 32,000 shares in April and May 2022. Additionally, GROW maintains a monthly dividend of $0.0075, yielding 1.96% annually.
U.S. Global Investors, Inc. (GROW) announced its continued monthly dividend payment of $0.0075 for May 2022, authorized through June. The record date was May 9, with a payment date set for May 23. This dividend represents a 1.87% annualized yield based on the closing price of $4.81 on May 18. The Company has a history of over 12 years of consistent monthly dividends. Future dividend payments will be reviewed by the Board, subject to the Company’s financial performance and market conditions.
U.S. Global Investors (NASDAQ: GROW) reported a net loss of $846,000, or $0.06 per share, for Q1 2022, impacted by $4.5 million in unrealized losses on investments. Operating income decreased 14% to $2.5 million, with revenues of $6.2 million, down 2.8% year-over-year due to fluctuating performance fees. Average assets under management rose to $4.1 billion, maintaining previous quarter levels. The company launched the U.S. Global Sea to Sky Cargo ETF, which has outperformed the market. Cash and equivalents increased by 85.4% to $26.8 million, supporting growth strategies.
U.S. Global Investors (GROW) announced that its U.S. Global Jets ETF (JETS) is now available on Ameriprise Financial, reaching over 10,000 advisors managing $1.2 trillion. This comes as JETS holds $3.4 billion in assets. CEO Frank Holmes noted that demand for air travel is rebounding as mask mandates are lifted, potentially leading to profitability for airlines in 2022. Notably, United Airlines anticipates record sales in Q2 2022. A webcast to discuss financial results is scheduled for May 10, 2022.
U.S. Global Investors (GROW) announced the continuation of its monthly dividend of $0.0075 through June 2022, reflecting a yield of 1.69% based on its April 22 close of $5.32. The company has maintained monthly dividends for over 12 years and has increased them twice in the past year. Additionally, GROW's share buyback program was expanded to $5 million, nearly doubling the shares repurchased compared to the previous quarter. Assets under management rose nearly 10% to $4.16 billion since the year began, while GROW stock outperformed market indices, rising over 18% in Q1 2022.
U.S. Global Investors, Inc. (GROW) announces the continuation of its monthly dividend of $0.0075 per share, effective from April through June 2022. The board of directors has set record dates for the dividend on April 11, May 9, and June 13, with payment dates on April 25, May 23, and June 27. As of March 16, 2022, the closing price of $4.88 translates to a yield of 1.84% on an annualized basis. The company's strategic stock buyback program has also been increased to $84,180, utilizing an algorithm to repurchase shares on down days.
On February 25, 2022, U.S. Global Investors announced an increase of 82% in its annual share buyback program limit, raising it from $2.75 million to $5 million. This strategic move is aimed at reinforcing the Company’s financial strategy and reflects confidence from the Board of Directors, citing the company’s undervaluation compared to peers. The decision follows two previous increases in the monthly dividend, now 50% higher than last year. The Company remains debt-free, allowing for further capital allocation towards new product launches.
U.S. Global Investors (NASDAQ: GROW) reported strong financial results for the quarter ending December 31, 2021. Operating revenues rose to $6.6 million, marking a 39% increase year-over-year. Net income surged 50% quarter-over-quarter to $3.6 million, equating to $0.24 per share. Average assets under management (AUM) also increased by 40% YOY to $4.1 billion. The firm announced a monthly dividend of $0.0075 per share through March 2022, alongside its share repurchase program. The recent launch of the U.S. Global Sea to Sky Cargo ETF (SEA) expands its ETF offerings.
U.S. Global Investors, trading under the ticker GROW, announced the launch of its third exchange-traded fund, the U.S. Global Sea to Sky Cargo ETF, which began trading on January 20, 2022. This ETF utilizes a smart-beta 2.0 strategy, focusing 70% on cargo shipping and 30% on air freight. The CEO, Frank Holmes, highlighted the shipping sector's attractiveness, citing record profits of $150 billion in 2021 for global cargo carriers. Additionally, the company amended its Form 10-Q for the quarter ended September 30, 2021, to include previously omitted advisory fees without altering key financial metrics.
U.S. Global Investors (GROW) announced the launch of its new U.S. Global Sea to Sky Cargo ETF (SEA), set to begin trading on the NYSE on January 20, 2022. This ETF seeks to provide access to the global sea shipping and air freight industries, with a focus on efficient companies. Container shipping represents 70% of SEA's holdings, with air freight comprising 30%. CEO Frank Holmes emphasized favorable pricing power in the shipping sector and anticipated sustained demand driven by a growing global middle class, projecting a significant increase in trade.
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