Vanguard Group Inc boosted its stake in shares of Gamco Investors Inc (NYSE:GBL) by 1.1% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 455,592 shares of the closed-end fund’s stock after acquiring an additional 5,163 shares during the quarter. Vanguard Group Inc’s holdings in Gamco Investors were worth $10,669,000 at the end of the most recent quarter.
A number of other hedge funds also recently made changes to their positions in the business. Dimensional Fund Advisors LP boosted its stake in shares of Gamco Investors by 7.6% in the third quarter. Dimensional Fund Advisors LP now owns 263,420 shares of the closed-end fund’s stock valued at $6,170,000 after purchasing an additional 18,568 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Gamco Investors in the third quarter valued at approximately $351,000. Millennium Management LLC boosted its stake in shares of Gamco Investors by 68.0% in the second quarter. Millennium Management LLC now owns 20,963 shares of the closed-end fund’s stock valued at $561,000 after purchasing an additional 8,488 shares during the period. BlackRock Inc. boosted its stake in shares of Gamco Investors by 2.1% in the second quarter. BlackRock Inc. now owns 394,026 shares of the closed-end fund’s stock valued at $10,543,000 after purchasing an additional 7,918 shares during the period. Finally, JPMorgan Chase & Co. boosted its stake in shares of Gamco Investors by 18.9% in the third quarter. JPMorgan Chase & Co. now owns 37,725 shares of the closed-end fund’s stock valued at $884,000 after purchasing an additional 6,001 shares during the period. 21.65% of the stock is owned by institutional investors.
NYSE GBL opened at $20.70 on Wednesday. Gamco Investors Inc has a one year low of $16.26 and a one year high of $28.31. The company has a market capitalization of $602.79 million, a PE ratio of 4.76 and a beta of 1.34.
Gamco Investors (NYSE:GBL) last posted its quarterly earnings data on Tuesday, November 6th. The closed-end fund reported $1.22 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.20 by $0.02. Gamco Investors had a net margin of 29.89% and a negative return on equity of 223.65%. The business had revenue of $85.79 million during the quarter. As a group, sell-side analysts expect that Gamco Investors Inc will post 4.06 EPS for the current year.
In other Gamco Investors news, CEO Mario J. Gabelli acquired 1,503 shares of the stock in a transaction dated Thursday, December 13th. The stock was acquired at an average price of $18.97 per share, with a total value of $28,511.91. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 80.97% of the company’s stock.
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Gamco Investors Company Profile
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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