Alliancebernstein L.P. Raises Position in Gamco Investors, Inc. (NYSE:GBL)
Alliancebernstein L.P. raised its stake in shares of Gamco Investors, Inc. (NYSE:GBL) by 0.5% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 19,755 shares of the closed-end fund’s stock after buying an additional 100 shares during the period. Alliancebernstein L.P.’s holdings in Gamco Investors were worth $585,000 as of its most recent filing with the SEC.
A number of other large investors have also made changes to their positions in the stock. Russell Investments Group Ltd. acquired a new stake in shares of Gamco Investors during the fourth quarter valued at about $197,000. State Street Corp increased its stake in shares of Gamco Investors by 0.5% in the fourth quarter. State Street Corp now owns 111,228 shares of the closed-end fund’s stock valued at $3,433,000 after buying an additional 561 shares in the last quarter. FMR LLC increased its stake in shares of Gamco Investors by 300.0% in the fourth quarter. FMR LLC now owns 100,000 shares of the closed-end fund’s stock valued at $3,089,000 after buying an additional 75,000 shares in the last quarter. Renaissance Technologies LLC increased its stake in shares of Gamco Investors by 46.1% in the fourth quarter. Renaissance Technologies LLC now owns 57,400 shares of the closed-end fund’s stock valued at $1,773,000 after buying an additional 18,100 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Gamco Investors during the fourth quarter valued at about $927,000. 15.75% of the stock is owned by institutional investors and hedge funds.
Shares of Gamco Investors, Inc. (NYSE GBL) opened at 29.77 on Tuesday. The firm has a market cap of $860.47 million, a P/E ratio of 7.72 and a beta of 1.07. Gamco Investors, Inc. has a one year low of $27.55 and a one year high of $33.60. The firm’s 50-day moving average price is $30.25 and its 200 day moving average price is $29.63.
The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Tuesday, September 12th will be issued a dividend of $0.02 per share. The ex-dividend date is Monday, September 11th. This represents a $0.08 annualized dividend and a yield of 0.27%. Gamco Investors’s dividend payout ratio (DPR) is currently 2.17%.
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Separately, BidaskClub downgraded Gamco Investors from a “hold” rating to a “sell” rating in a report on Wednesday, June 28th.
About Gamco Investors
GAMCO Investors, Inc is a holding company. The Company is a provider of investment advisory services to open and closed-end funds, institutional and private wealth management investors principally in the United States. The Company operates through the investment advisory and asset management business segment.
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