Bank of New York Mellon Corp increased its stake in shares of Gamco Investors Inc (NYSE:GBL) by 16.1% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 41,308 shares of the closed-end fund’s stock after acquiring an additional 5,722 shares during the period. Bank of New York Mellon Corp owned 0.15% of Gamco Investors worth $792,000 as of its most recent filing with the SEC.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Swiss National Bank increased its holdings in shares of Gamco Investors by 16.6% during the 2nd quarter. Swiss National Bank now owns 11,238 shares of the closed-end fund’s stock valued at $215,000 after acquiring an additional 1,600 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of Gamco Investors by 10.9% during the 2nd quarter. Wells Fargo & Company MN now owns 12,077 shares of the closed-end fund’s stock valued at $232,000 after acquiring an additional 1,188 shares during the last quarter. Marshall Wace LLP increased its holdings in shares of Gamco Investors by 85.4% during the 1st quarter. Marshall Wace LLP now owns 12,811 shares of the closed-end fund’s stock valued at $263,000 after acquiring an additional 5,901 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. grew its holdings in Gamco Investors by 39.8% in the 2nd quarter. Connor Clark & Lunn Investment Management Ltd. now owns 13,700 shares of the closed-end fund’s stock valued at $263,000 after buying an additional 3,900 shares during the last quarter. Finally, Denali Advisors LLC grew its holdings in Gamco Investors by 221.4% in the 2nd quarter. Denali Advisors LLC now owns 32,300 shares of the closed-end fund’s stock valued at $619,000 after buying an additional 22,249 shares during the last quarter. 23.46% of the stock is currently owned by institutional investors and hedge funds.
Separately, ValuEngine raised Gamco Investors from a “sell” rating to a “hold” rating in a report on Wednesday, October 2nd.
GBL opened at $18.12 on Friday. The firm has a market capitalization of $501.87 million, a P/E ratio of 4.87 and a beta of 1.56. The stock’s 50 day moving average price is $18.84 and its two-hundred day moving average price is $19.46. The company has a quick ratio of 0.80, a current ratio of 1.16 and a debt-to-equity ratio of 1.07. Gamco Investors Inc has a 12-month low of $16.26 and a 12-month high of $22.81.
Gamco Investors (NYSE:GBL) last released its earnings results on Tuesday, August 6th. The closed-end fund reported $0.89 earnings per share (EPS) for the quarter. The firm had revenue of $76.41 million for the quarter. Gamco Investors had a return on equity of 901.65% and a net margin of 32.21%.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 24th. Shareholders of record on Tuesday, September 10th were issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.44%. The ex-dividend date of this dividend was Monday, September 9th.
In other Gamco Investors news, CEO Mario J. Gabelli bought 4,503 shares of the stock in a transaction on Friday, August 30th. The shares were purchased at an average price of $17.78 per share, with a total value of $80,063.34. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Raymond Avansino sold 70,000 shares of the firm’s stock in a transaction that occurred on Monday, September 16th. The shares were sold at an average price of $20.07, for a total value of $1,404,900.00. Company insiders own 80.97% of the company’s stock.
About Gamco Investors
GAMCO Investors, Inc is a publicly owned holding investment manager. The firm also provides wealth management, investment advisory, institutional research, brokerage, dealer, underwriting, and distribution services to its clients. It provides its services to individuals including high net worth individuals, corporate pension and profit-sharing plans, foundations, endowments, jointly trust plans, municipalities, and investment companies.
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