Millennium Management LLC lessened its stake in shares of Gamco Investors Inc (NYSE:GBL) by 75.5% during the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 12,475 shares of the closed-end fund’s stock after selling 38,347 shares during the period. Millennium Management LLC’s holdings in Gamco Investors were worth $310,000 at the end of the most recent quarter.
A number of other large investors also recently added to or reduced their stakes in GBL. Greenwich Wealth Management LLC raised its holdings in Gamco Investors by 215.1% during the 1st quarter. Greenwich Wealth Management LLC now owns 160,093 shares of the closed-end fund’s stock valued at $3,975,000 after buying an additional 109,293 shares during the period. Dimensional Fund Advisors LP raised its holdings in Gamco Investors by 54.0% during the 1st quarter. Dimensional Fund Advisors LP now owns 258,582 shares of the closed-end fund’s stock valued at $6,421,000 after buying an additional 90,724 shares during the period. BlackRock Inc. raised its holdings in Gamco Investors by 14.1% during the 1st quarter. BlackRock Inc. now owns 386,108 shares of the closed-end fund’s stock valued at $9,587,000 after buying an additional 47,603 shares during the period. Renaissance Technologies LLC raised its holdings in Gamco Investors by 82.2% during the 4th quarter. Renaissance Technologies LLC now owns 94,000 shares of the closed-end fund’s stock valued at $2,787,000 after buying an additional 42,400 shares during the period. Finally, Deutsche Bank AG raised its holdings in Gamco Investors by 159.7% during the 4th quarter. Deutsche Bank AG now owns 58,166 shares of the closed-end fund’s stock valued at $1,722,000 after buying an additional 35,771 shares during the period. Institutional investors own 17.21% of the company’s stock.
GBL stock opened at $25.78 on Friday. The company has a debt-to-equity ratio of -0.98, a quick ratio of 0.55 and a current ratio of 0.79. Gamco Investors Inc has a twelve month low of $23.42 and a twelve month high of $30.94. The firm has a market capitalization of $754.84 million, a price-to-earnings ratio of 6.76 and a beta of 1.06.
The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 25th. Shareholders of record on Monday, September 10th will be paid a $0.02 dividend. The ex-dividend date of this dividend is Friday, September 7th. This represents a $0.08 dividend on an annualized basis and a yield of 0.31%.
In other Gamco Investors news, insider Diane Lapointe sold 3,996 shares of the stock in a transaction on Thursday, August 9th. The stock was sold at an average price of $26.15, for a total value of $104,495.40. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Company insiders own 80.97% of the company’s stock.
Several analysts recently weighed in on the company. ValuEngine lowered Gamco Investors from a “hold” rating to a “sell” rating in a report on Saturday, June 2nd. TheStreet upgraded Gamco Investors from a “d-” rating to a “c” rating in a report on Wednesday.
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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