GAMCO Investors (NYSE:GBL) Downgraded by StockNews.com to “Buy”

StockNews.com cut shares of GAMCO Investors (NYSE:GBLGet Rating) from a strong-buy rating to a buy rating in a report issued on Friday.

Separately, TheStreet upgraded shares of GAMCO Investors from a c+ rating to a b rating in a research report on Thursday, May 19th.

GAMCO Investors Stock Performance

Shares of NYSE GBL opened at $20.68 on Friday. The company’s fifty day moving average price is $20.72 and its 200 day moving average price is $21.10. GAMCO Investors has a 1 year low of $18.30 and a 1 year high of $29.80. The company has a market capitalization of $548.02 million, a PE ratio of 7.33 and a beta of 1.35. The company has a debt-to-equity ratio of 0.28, a quick ratio of 2.39 and a current ratio of 2.85.

GAMCO Investors (NYSE:GBLGet Rating) last announced its quarterly earnings results on Tuesday, May 3rd. The closed-end fund reported $0.66 earnings per share (EPS) for the quarter, hitting analysts’ consensus estimates of $0.66. The firm had revenue of $69.62 million for the quarter. GAMCO Investors had a net margin of 25.58% and a return on equity of 73.14%.

GAMCO Investors Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 27th. Shareholders of record on Tuesday, September 13th will be given a dividend of $0.04 per share. This represents a $0.16 dividend on an annualized basis and a yield of 0.77%. The ex-dividend date is Monday, September 12th. GAMCO Investors’s dividend payout ratio is presently 5.67%.

Hedge Funds Weigh In On GAMCO Investors

A number of large investors have recently added to or reduced their stakes in the stock. State Board of Administration of Florida Retirement System acquired a new position in GAMCO Investors during the second quarter worth $277,000. Castle Wealth Management LLC acquired a new stake in shares of GAMCO Investors in the second quarter valued at about $31,000. Strs Ohio raised its position in shares of GAMCO Investors by 1.9% in the second quarter. Strs Ohio now owns 26,900 shares of the closed-end fund’s stock valued at $562,000 after buying an additional 500 shares during the last quarter. Denali Advisors LLC raised its position in shares of GAMCO Investors by 2.4% in the second quarter. Denali Advisors LLC now owns 63,042 shares of the closed-end fund’s stock valued at $1,318,000 after buying an additional 1,500 shares during the last quarter. Finally, Neuberger Berman Group LLC raised its position in shares of GAMCO Investors by 3.2% in the first quarter. Neuberger Berman Group LLC now owns 425,825 shares of the closed-end fund’s stock valued at $9,415,000 after buying an additional 13,174 shares during the last quarter. 33.55% of the stock is currently owned by institutional investors and hedge funds.

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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