BidaskClub cut shares of Gamco Investors, Inc. (NYSE:GBL) from a hold rating to a sell rating in a report published on Tuesday.

Shares of Gamco Investors (GBL) traded down 0.44% on Tuesday, reaching $29.37. 21,075 shares of the company were exchanged. The company has a market capitalization of $848.21 million, a P/E ratio of 8.00 and a beta of 1.07. Gamco Investors has a 52-week low of $27.55 and a 52-week high of $33.55. The stock has a 50 day moving average of $30.20 and a 200-day moving average of $29.59.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Stockholders of record on Tuesday, September 12th will be given a $0.02 dividend. This represents a $0.08 annualized dividend and a dividend yield of 0.27%. The ex-dividend date is Monday, September 11th. Gamco Investors’s payout ratio is currently 2.17%.

Several large investors have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. acquired a new stake in Gamco Investors during the fourth quarter valued at about $197,000. State Street Corp raised its stake in Gamco Investors by 0.5% in the fourth quarter. State Street Corp now owns 111,228 shares of the closed-end fund’s stock valued at $3,433,000 after buying an additional 561 shares during the last quarter. FMR LLC raised its stake in Gamco Investors by 300.0% in the fourth quarter. FMR LLC now owns 100,000 shares of the closed-end fund’s stock valued at $3,089,000 after buying an additional 75,000 shares during the last quarter. Renaissance Technologies LLC raised its stake in Gamco Investors by 46.1% in the fourth quarter. Renaissance Technologies LLC now owns 57,400 shares of the closed-end fund’s stock valued at $1,773,000 after buying an additional 18,100 shares during the last quarter. Finally, Norges Bank acquired a new stake in Gamco Investors during the fourth quarter valued at about $927,000. 15.75% of the stock is owned by institutional investors.

About Gamco Investors

GAMCO Investors, Inc is a holding company. The Company is a provider of investment advisory services to open and closed-end funds, institutional and private wealth management investors principally in the United States. The Company operates through the investment advisory and asset management business segment.

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