Separately, ValuEngine cut Gamco Investors from a hold rating to a sell rating in a research report on Saturday, June 2nd.
Shares of Gamco Investors stock opened at $25.78 on Wednesday. The company has a debt-to-equity ratio of -0.98, a quick ratio of 0.55 and a current ratio of 0.79. The company has a market cap of $754.84 million, a PE ratio of 6.76 and a beta of 1.06. Gamco Investors has a twelve month low of $23.42 and a twelve month high of $30.94.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 25th. Investors of record on Monday, September 10th will be issued a $0.02 dividend. This represents a $0.08 dividend on an annualized basis and a yield of 0.31%. The ex-dividend date of this dividend is Friday, September 7th.
In related news, insider Diane Lapointe sold 3,996 shares of the stock in a transaction that occurred on Thursday, August 9th. The stock was sold at an average price of $26.15, for a total value of $104,495.40. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 80.97% of the company’s stock.
A number of hedge funds have recently modified their holdings of GBL. Jolley Asset Management LLC bought a new position in Gamco Investors in the 2nd quarter worth approximately $214,000. Wells Fargo & Company MN boosted its stake in Gamco Investors by 36.9% during the 1st quarter. Wells Fargo & Company MN now owns 9,078 shares of the closed-end fund’s stock valued at $226,000 after purchasing an additional 2,449 shares in the last quarter. Wellington Shields Capital Management LLC bought a new position in Gamco Investors during the 1st quarter valued at $292,000. Trexquant Investment LP bought a new position in Gamco Investors during the 1st quarter valued at $299,000. Finally, GSA Capital Partners LLP boosted its stake in Gamco Investors by 33.3% during the 1st quarter. GSA Capital Partners LLP now owns 16,117 shares of the closed-end fund’s stock valued at $400,000 after purchasing an additional 4,026 shares in the last quarter. 17.21% of the stock is owned by institutional investors and hedge funds.
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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