Gamco Investors, Inc. (NYSE:GBL) Position Boosted by Rice Hall James & Associates LLC
Rice Hall James & Associates LLC raised its stake in shares of Gamco Investors, Inc. (NYSE:GBL) by 27.0% during the second quarter, Holdings Channel reports. The firm owned 74,724 shares of the closed-end fund’s stock after buying an additional 15,894 shares during the period. Rice Hall James & Associates LLC’s holdings in Gamco Investors were worth $2,212,000 at the end of the most recent quarter.
Several other institutional investors have also made changes to their positions in GBL. Wells Fargo & Company MN raised its position 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 valued at $135,000 after buying an additional 96 shares during the period. Russell Investments Group Ltd. acquired a new position in shares of Gamco Investors during the fourth quarter valued at approximately $197,000. Advisory Services Network LLC acquired a new position in shares of Gamco Investors during the first quarter valued at approximately $230,000. Los Angeles Capital Management & Equity Research Inc. raised its position 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 valued at $237,000 after buying an additional 709 shares during the period. Finally, Cigna Investments Inc. New acquired a new position in shares of Gamco Investors during the second quarter valued at approximately $283,000. 25.64% of the stock is currently owned by institutional investors and hedge funds.
Shares of Gamco Investors, Inc. (NYSE:GBL) opened at 29.82 on Tuesday. Gamco Investors, Inc. has a one year low of $27.55 and a one year high of $33.55. The firm’s 50-day moving average price is $30.20 and its 200 day moving average price is $29.56. The stock has a market cap of $861.20 million, a P/E ratio of 8.12 and a beta of 1.07.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 26th. Shareholders of record on Tuesday, September 12th will be paid a dividend of $0.02 per share. This represents a $0.08 dividend on an annualized basis and a dividend yield of 0.27%. The ex-dividend date is Monday, September 11th. Gamco Investors’s dividend payout ratio is presently 2.17%.
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Separately, BidaskClub lowered Gamco Investors from a “hold” rating to a “sell” rating in a research note on Tuesday, August 8th.
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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