Gamco Investors, Inc. (GBL) Stake Boosted by Dimensional Fund Advisors LP
Dimensional Fund Advisors LP raised its position in Gamco Investors, Inc. (NYSE:GBL) by 9.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,373 shares of the closed-end fund’s stock after buying an additional 11,229 shares during the period. Dimensional Fund Advisors LP owned 0.47% of Gamco Investors worth $4,006,000 as of its most recent filing with the SEC.
A number of other hedge funds have also modified their holdings of GBL. Wells Fargo & Company MN increased its stake in shares of Gamco Investors by 2.1% in the first quarter. Wells Fargo & Company MN now owns 4,584 shares of the closed-end fund’s stock worth $135,000 after buying an additional 96 shares during the last quarter. Advisory Services Network LLC acquired a new stake in shares of Gamco Investors during the first quarter worth $230,000. Los Angeles Capital Management & Equity Research Inc. increased its stake in shares of Gamco Investors by 9.7% in the first quarter. Los Angeles Capital Management & Equity Research Inc. now owns 8,004 shares of the closed-end fund’s stock worth $237,000 after buying an additional 709 shares during the last quarter. Menta Capital LLC acquired a new stake in shares of Gamco Investors during the first quarter worth $342,000. Finally, Alliancebernstein L.P. increased its stake in shares of Gamco Investors by 0.5% in the first quarter. Alliancebernstein L.P. now owns 19,755 shares of the closed-end fund’s stock worth $585,000 after buying an additional 100 shares during the last quarter. Hedge funds and other institutional investors own 25.35% of the company’s stock.
Shares of Gamco Investors, Inc. (NYSE:GBL) traded up 0.17% during mid-day trading on Tuesday, reaching $29.35. The company’s stock had a trading volume of 5,393 shares. The firm has a market cap of $847.63 million, a price-to-earnings ratio of 7.99 and a beta of 1.07. The company’s 50-day moving average is $30.18 and its 200 day moving average is $29.58. Gamco Investors, Inc. has a 12 month low of $27.55 and a 12 month high of $33.55.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Investors of record on Tuesday, September 12th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Monday, September 11th. This represents a $0.08 dividend on an annualized basis and a yield of 0.27%. Gamco Investors’s payout ratio is 2.17%.
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Separately, BidaskClub upgraded Gamco Investors from a “sell” rating to a “hold” rating in a report on Monday, July 24th.
Gamco Investors Company Profile
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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