GAMCO Investors, Inc. (NYSE:GBL) Major Shareholder Acquires $23,088.00 in Stock

GAMCO Investors, Inc. (NYSE:GBLGet Rating) major shareholder Ggcp, Inc. bought 1,300 shares of the company’s stock in a transaction that occurred on Monday, September 19th. The shares were bought at an average price of $17.76 per share, for a total transaction of $23,088.00. Following the completion of the acquisition, the insider now owns 22,306 shares in the company, valued at approximately $396,154.56. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Major shareholders that own at least 10% of a company’s stock are required to disclose their transactions with the SEC.

GAMCO Investors Price Performance

GBL stock opened at $16.64 on Friday. The company has a current ratio of 2.85, a quick ratio of 2.24 and a debt-to-equity ratio of 0.28. GAMCO Investors, Inc. has a one year low of $16.29 and a one year high of $29.80. The firm has a market capitalization of $438.75 million, a PE ratio of 5.90 and a beta of 1.33. The firm has a 50-day moving average of $20.40 and a two-hundred day moving average of $20.69.

GAMCO Investors Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 27th. Shareholders of record on Tuesday, September 13th will be issued a dividend of $0.04 per share. The ex-dividend date of this dividend is Monday, September 12th. This represents a $0.16 annualized dividend and a yield of 0.96%. GAMCO Investors’s dividend payout ratio (DPR) is presently 5.67%.

Hedge Funds Weigh In On GAMCO Investors

Several large investors have recently bought and sold shares of GBL. Acadian Asset Management LLC bought a new stake in shares of GAMCO Investors in the fourth quarter valued at about $36,000. Castle Wealth Management LLC acquired a new stake in shares of GAMCO Investors during the second quarter worth approximately $31,000. BNP Paribas Arbitrage SA increased its holdings in shares of GAMCO Investors by 515.0% during the second quarter. BNP Paribas Arbitrage SA now owns 2,700 shares of the closed-end fund’s stock worth $56,000 after buying an additional 2,261 shares in the last quarter. State Board of Administration of Florida Retirement System acquired a new stake in shares of GAMCO Investors in the second quarter valued at approximately $277,000. Finally, O Shaughnessy Asset Management LLC acquired a new stake in shares of GAMCO Investors in the second quarter valued at approximately $351,000. 20.60% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, lowered GAMCO Investors from a “strong-buy” rating to a “buy” rating in a research report on Friday, August 5th.

GAMCO Investors Company Profile

(Get Rating)

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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