Gamco Investors (GBL) Hits New 12-Month Low at $19.57

Gamco Investors Inc (NYSE:GBL) shares hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $19.57 and last traded at $19.82, with a volume of 445 shares trading hands. The stock had previously closed at $20.14.

Separately, TheStreet upgraded Gamco Investors from a “d-” rating to a “c” rating in a research report on Wednesday, August 15th.

The stock has a market cap of $583.28 million, a PE ratio of 7.20 and a beta of 1.13.

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 negative return on equity of 141.26% and a net margin of 24.59%. The business had revenue of $87.19 million during the quarter.

In other Gamco Investors news, insider Diane Lapointe sold 3,996 shares of the business’s stock in a transaction that occurred on Thursday, August 9th. The stock was 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 Securities & Exchange Commission, which is accessible through the SEC website. 80.97% of the stock is owned by insiders.

Several large investors have recently made changes to their positions in GBL. Jolley Asset Management LLC purchased a new position in shares of Gamco Investors during the second quarter valued at approximately $214,000. Wells Fargo & Company MN boosted its position in shares of Gamco Investors by 36.9% during the first quarter. Wells Fargo & Company MN now owns 9,078 shares of the closed-end fund’s stock valued at $226,000 after buying an additional 2,449 shares during the period. Gamco Investors INC. ET AL purchased a new position in shares of Gamco Investors during the third quarter valued at approximately $351,000. Guggenheim Capital LLC boosted its position in shares of Gamco Investors by 11.5% during the first quarter. Guggenheim Capital LLC now owns 22,014 shares of the closed-end fund’s stock valued at $546,000 after buying an additional 2,273 shares during the period. Finally, Millennium Management LLC boosted its position in shares of Gamco Investors by 68.0% during the second quarter. Millennium Management LLC now owns 20,963 shares of the closed-end fund’s stock valued at $561,000 after buying an additional 8,488 shares during the period. Institutional investors and hedge funds own 16.70% of the company’s stock.

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About Gamco Investors (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.

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