GAMCO Investors Stock Rating Lowered by Merrill Lynch (GBL)
GAMCO Investors (NYSE:GBL) was downgraded by Merrill Lynch from a “neutral” rating to an “underperform” rating in a research note issued on Wednesday, Analyst Ratings Network.com reports.
Separately, analysts at Bank of America Corp. downgraded shares of GAMCO Investors (NYSE:GBL) from a “neutral” rating to an “underperform” rating in a research note to investors on Wednesday. They now have a $69.00 price target on the stock, up previously from $63.00.
Shares of GAMCO Investors (NYSE:GBL) traded down 1.25% during mid-day trading on Wednesday, hitting $74.06. 18,129 shares of the company’s stock traded hands. GAMCO Investors has a 52-week low of $44.51 and a 52-week high of $75.43. The stock’s 50-day moving average is $62.05 and its 200-day moving average is $55.44. The company has a market cap of $1.898 billion and a price-to-earnings ratio of 22.43.
GAMCO Investors (NYSE:GBL) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $1.09 EPS for the quarter. The company had revenue of $92.30 million for the quarter, compared to the consensus estimate of $81.00 million. Analysts expect that GAMCO Investors will post $3.73 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Tuesday, September 24th. Shareholders of record on Tuesday, September 10th will be paid a dividend of $0.06 per share. This represents a $0.24 annualized dividend and a dividend yield of 0.32%. The ex-dividend date is Friday, September 6th. This is a positive change from GAMCO Investors’s previous quarterly dividend of $0.05.
In other GAMCO Investors news, CAO Diane Lapointe sold 1,598 shares of the company’s stock on the open market in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $63.90, for a total transaction of $102,112.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
GAMCO Investors, Inc (NYSE:GBL) is a provider of investment advisory services to mutual funds, institutional and private wealth management investors, and investment partnerships, principally in the United States.
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