Bank of New York Mellon Corp decreased its stake in shares of Gamco Investors Inc. (NYSE:GBL) by 2.8% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 62,242 shares of the closed-end fund’s stock after selling 1,802 shares during the period. Bank of New York Mellon Corp owned approximately 0.21% of Gamco Investors worth $2,039,000 as of its most recent SEC filing.
Other hedge funds have also bought and sold shares of the company. Bogle Investment Management L P DE acquired a new stake in Gamco Investors during the first quarter valued at about $840,000. Rice Hall James & Associates LLC raised its stake in Gamco Investors by 1.5% in the second quarter. Rice Hall James & Associates LLC now owns 55,593 shares of the closed-end fund’s stock worth $1,822,000 after buying an additional 830 shares in the last quarter. Renaissance Technologies LLC raised its stake in Gamco Investors by 22.5% in the first quarter. Renaissance Technologies LLC now owns 70,200 shares of the closed-end fund’s stock worth $2,602,000 after buying an additional 12,900 shares in the last quarter. Finally, Royce & Associates LP raised its stake in Gamco Investors by 15.1% in the first quarter. Royce & Associates LP now owns 274,156 shares of the closed-end fund’s stock worth $10,160,000 after buying an additional 35,994 shares in the last quarter. Institutional investors and hedge funds own 23.56% of the company’s stock.
Shares of Gamco Investors Inc. (NYSE:GBL) traded up 1.04% during mid-day trading on Thursday, reaching $29.19. 12,527 shares of the company’s stock traded hands. Gamco Investors Inc. has a 12-month low of $25.95 and a 12-month high of $41.67. The stock has a 50-day moving average price of $29.80 and a 200 day moving average price of $34.17. The firm has a market capitalization of $853.05 million, a price-to-earnings ratio of 9.18 and a beta of 1.27.
The company also recently declared a quarterly dividend, which was paid on Tuesday, September 27th. Investors of record on Tuesday, September 13th were issued a dividend of $0.02 per share. The ex-dividend date was Friday, September 9th. This represents a $0.08 annualized dividend and a yield of 0.28%. Gamco Investors’s payout ratio is 2.56%.
Separately, Zacks Investment Research upgraded shares of Gamco Investors from a “hold” rating to a “buy” rating and set a $34.00 price objective for the company in a report on Wednesday, September 7th.
About Gamco Investors
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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