Bank of New York Mellon Corp Raises Position in Gamco Investors, Inc. (GBL)
Bank of New York Mellon Corp boosted its holdings in Gamco Investors, Inc. (NYSE:GBL) by 0.0% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 71,693 shares of the closed-end fund’s stock after acquiring an additional 19 shares during the period. Bank of New York Mellon Corp owned 0.25% of Gamco Investors worth $2,122,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds and other institutional investors have also modified their holdings of GBL. Vanguard Group Inc. grew its stake in Gamco Investors by 6.7% in the 1st quarter. Vanguard Group Inc. now owns 376,843 shares of the closed-end fund’s stock valued at $11,150,000 after acquiring an additional 23,589 shares during the last quarter. First Quadrant L P CA grew its stake in Gamco Investors by 2,262.0% in the 2nd quarter. First Quadrant L P CA now owns 18,896 shares of the closed-end fund’s stock valued at $559,000 after acquiring an additional 18,096 shares during the last quarter. Rice Hall James & Associates LLC grew its stake in Gamco Investors by 27.0% in the 2nd quarter. Rice Hall James & Associates LLC now owns 74,724 shares of the closed-end fund’s stock valued at $2,212,000 after acquiring an additional 15,894 shares during the last quarter. Beach Investment Management LLC. acquired a new stake in Gamco Investors in the 2nd quarter valued at about $352,000. Finally, Menta Capital LLC acquired a new stake in Gamco Investors in the 1st quarter valued at about $342,000. 25.35% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Gamco Investors, Inc. (NYSE:GBL) opened at 29.45 on Friday. The firm has a market capitalization of $850.52 million, a PE ratio of 8.02 and a beta of 1.05. Gamco Investors, Inc. has a 52 week low of $27.55 and a 52 week high of $33.55. The company has a 50-day moving average of $29.23 and a 200-day moving average of $29.46.
The company also recently announced a quarterly dividend, which was paid on Tuesday, September 26th. Investors of record on Tuesday, September 12th were issued a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.27%. The ex-dividend date was Monday, September 11th. Gamco Investors’s payout ratio is currently 2.17%.
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Separately, BidaskClub raised shares of Gamco Investors from a “sell” rating to a “hold” rating in a research note on Monday, July 24th.
In related news, insider Kieran Caterina sold 2,325 shares of Gamco Investors stock in a transaction dated Thursday, August 31st. The stock was sold at an average price of $29.47, for a total transaction of $68,517.75. Following the transaction, the insider now directly owns 5,242 shares of the company’s stock, valued at $154,481.74. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 78.99% of the stock is owned by insiders.
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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