Gamco Investors Inc (NYSE:GBL) shares reached a new 52-week low on Thursday . The stock traded as low as $21.52 and last traded at $22.10, with a volume of 100 shares changing hands. The stock had previously closed at $22.05.
Separately, TheStreet raised shares of Gamco Investors from a “d-” rating to a “c” rating in a report on Wednesday, August 15th.
The firm has a market cap of $611.95 million, a price-to-earnings ratio of 5.50 and a beta of 1.00. The company has a current ratio of 0.79, a quick ratio of 0.55 and a debt-to-equity ratio of -0.98.
Gamco Investors (NYSE:GBL) last announced its earnings results on Tuesday, August 7th. The closed-end fund reported $1.39 earnings per share (EPS) for the quarter. Gamco Investors had a net margin of 24.59% and a negative return on equity of 141.26%. The firm had revenue of $87.19 million for the quarter.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 25th. Shareholders of record on Monday, September 10th were given a dividend of $0.02 per share. The ex-dividend date was Friday, September 7th. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.38%. Gamco Investors’s payout ratio is presently 2.84%.
In other Gamco Investors news, insider Diane Lapointe sold 3,996 shares of the stock in a transaction that occurred on Thursday, August 9th. The shares were sold at an average price of $26.15, for a total transaction of $104,495.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Corporate insiders own 80.97% of the company’s stock.
Several large investors have recently made changes to their positions in GBL. Jolley Asset Management LLC acquired a new position in shares of Gamco Investors during the 2nd quarter worth approximately $214,000. Wells Fargo & Company MN grew its position in shares of 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 worth $226,000 after purchasing an additional 2,449 shares in the last quarter. GSA Capital Partners LLP grew its position in shares of 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 worth $400,000 after purchasing an additional 4,026 shares in the last quarter. Guggenheim Capital LLC grew its position in shares of Gamco Investors by 11.5% during the 1st quarter. Guggenheim Capital LLC now owns 22,014 shares of the closed-end fund’s stock worth $546,000 after purchasing an additional 2,273 shares in the last quarter. Finally, Millennium Management LLC boosted its position in shares of Gamco Investors by 68.0% during the 2nd quarter. Millennium Management LLC now owns 20,963 shares of the closed-end fund’s stock worth $561,000 after acquiring an additional 8,488 shares in the last quarter. Hedge funds and other institutional investors own 16.74% of the company’s stock.
Gamco Investors Company Profile (NYSE:GBL)
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.
Further Reading: Buyback
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