Gamco Investors Inc. (GBL) Upgraded to “Hold” by Zacks Investment Research
Gamco Investors Inc. (NYSE:GBL) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a research note issued on Wednesday.
According to Zacks, “GAMCO Investors, Inc., through its subsidiaries, manages assets in private advisory accounts (GAMCO Asset Management Inc.), mutual funds and closed-end funds (Gabelli Funds, LLC) and partnerships and offshore funds (Investment Partnerships). “
Gamco Investors (NYSE:GBL) traded down 0.31% during midday trading on Wednesday, reaching $29.05. 17,581 shares of the company traded hands. The firm has a 50 day moving average of $29.68 and a 200-day moving average of $34.07. The stock has a market capitalization of $848.96 million, a price-to-earnings ratio of 9.14 and a beta of 1.27. Gamco Investors has a 12 month low of $25.95 and a 12 month high of $41.67.
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The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 13th were given a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a yield of 0.28%. The ex-dividend date of this dividend was Friday, September 9th. Gamco Investors’s payout ratio is presently 2.56%.
A number of hedge funds and other institutional investors have recently made changes to their positions in GBL. Paloma Partners Management Co bought a new position in shares of Gamco Investors during the second quarter worth approximately $247,000. Menta Capital LLC bought a new position in shares of Gamco Investors during the second quarter worth approximately $280,000. O Shaughnessy Asset Management LLC increased its position in shares of Gamco Investors by 2,106.1% in the second quarter. O Shaughnessy Asset Management LLC now owns 8,979 shares of the closed-end fund’s stock worth $294,000 after buying an additional 8,572 shares during the last quarter. Panagora Asset Management Inc. bought a new position in shares of Gamco Investors during the second quarter worth approximately $297,000. Finally, Bridgeway Capital Management Inc. increased its position in shares of Gamco Investors by 1.0% in the second quarter. Bridgeway Capital Management Inc. now owns 10,100 shares of the closed-end fund’s stock worth $331,000 after buying an additional 100 shares during the last quarter. 23.56% of the stock is currently owned by hedge funds and other institutional investors.
Gamco Investors Company Profile
GAMCO Investors, Inc (GBL) is a holding company. Through its subsidiaries, the Company provides investment advisory services to open and closed-end funds, institutional and private wealth management (PWM) investors in the United States. The Company operates in the segment of investment advisory and asset management business.
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