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GAMCO Investors, Inc. (NYSE:GBL) is a prominent investment advisory services provider for various types of investors. Established in 1977 by Mario J. Gabelli, the company is renowned for its research-driven equity investment approach and the proprietary Private Market Value (PMV) with a Catalyst™ stock selection strategy. With $39.7 billion assets under management (AUM) as of December 31, 2016, 95% of which is invested in equities, GAMCO operates through two registered investment advisers: GAMCO Asset Management Inc. (institutional and private wealth management) and Gabelli Funds, LLC (funds). G.Distributors, LLC serves as an underwriter and distributor for the company's open-end funds.
GAMCO Investors (GAMI) reported strong Q3 2024 financial results with diluted EPS of $0.69, up from $0.52 in Q3 2023. Assets Under Management reached $32.2 billion, a 4.9% increase from Q2 2024. The company maintained a solid financial position with $261.0 million in cash and investments with no debt. Operating margin improved to 37.6% from 29.5% year-over-year. Total revenue was $57.5 million, slightly down from $59.5 million in Q3 2023. The board declared a special dividend of $2.00 per share and a regular quarterly dividend of $0.04 per share.
Gabelli Funds announces its 48th Annual Automotive Symposium scheduled for November 4-5, 2024, at the Encore at Wynn in Las Vegas. The two-day event features presentations from senior management of leading automotive and trucking companies, including OEM suppliers, retailers, aftermarket service providers, and next-gen tech companies focused on vehicle electrification.
The symposium provides a comprehensive 'cradle to grave' examination of the automotive ecosystem, featuring presentations from notable companies like AutoNation, AutoZone, Genuine Parts Company, and O'Reilly Automotive. The agenda includes a special keynote on the 'EVolving Landscape in Auto Repair' and concludes with a Gabelli Funds' Cocktail Reception.
GAMCO has reviewed Project Rise Partners' open letter regarding their offer for Paramount at a price higher than the current merger price. Despite the 'Go Shop' period expiring on August 21, 2024, GAMCO believes Paramount's Board should consider and respond to this serious proposal. Through Operation Fishbowl, GAMCO continues to receive documents via a Delaware 220 Books and Records request, seeking to ensure shareholders receive fair value. However, materials received so far lack sufficient information to properly value NAI's Paramount holdings and non-Paramount assets. GAMCO Portfolio Manager Christopher Marangi notes uncertainty about NAI's per-share compensation for their control ownership.
The Gabelli Utility Trust (NYSE: GUT) has successfully concluded its transferable rights offering, raising $58,120,545 in gross proceeds. The Fund will issue 11,624,109 common shares as a result of the offering. Rights holders were able to purchase common shares by submitting five Rights and $5.00 per share. The offering expired on October 21, 2024, and new common shares will be issued around October 25, 2024. These new shares will be eligible for the Fund's monthly distribution on November 21, 2024, but not for the October 24, 2024 distribution. Over-subscription requests will be allocated in full among fully exercising record date shareholders, subject to Board approval.
Gabelli Funds is set to host its 48th Annual Automotive Symposium on November 4th and 5th, 2024 at the Encore at Wynn in Las Vegas, Nevada. This two-day event will feature presentations from senior management of leading automotive and trucking companies, offering investors insights into the industry's changing dynamics.
The symposium will cover a wide range of topics, including original equipment suppliers, automotive retailers, aftermarket service participants, and next-gen tech companies driving vehicle electrification. The agenda includes presentations from various companies such as NN, Inc., MP Materials Corp., Gentex , AutoNation, Inc., AutoZone, Inc., and Penske Automotive Group, Inc., among others.
The event aims to provide a comprehensive look at the automotive ecosystem and help investors understand 'What's Next?' for the industry. Registration is available online, and general inquiries can be directed to James Carey or Miles McQuillen at Gabelli Funds.
Gabelli Dividend & Income Trust (NYSE: GDV) has announced that GAMCO Investors and its affiliates have purchased $107 million of the Fund's Series M Cumulative Preferred Shares. The Series M Preferred carries a 4.80% dividend rate and has specific features:
- Puttable/callable in December 2025
- Mandatory redemption in December 2026
This investment by GAMCO Investors, a significant player in the financial sector, demonstrates confidence in the Fund's performance and strategy. Investors are advised to carefully consider the Fund's investment objectives, risks, charges, and expenses before making investment decisions.
Gabelli Funds, and Columbia Business School are set to host the 6th Annual Healthcare Symposium on November 15th, 2024 at the Paley Center in New York City. This half-day event will feature leading healthcare executives and physicians discussing current and future industry trends.
The symposium agenda includes three main panels:
- Unlocking the Potential of Surgical Robotics
- Interoperability, Digital Transformation and Enhancing Patient Care
- Advances in Atrial Fibrillation Technology and Treatment
The event will begin with breakfast at 8:15am and conclude with closing remarks at 12:20pm. Attendees can register through the provided link. For general inquiries, contact Miles McQuillen at MMcQuillen@gabelli.com or 914-921-5112.
Gabelli Funds is set to host its 48th Annual Automotive Symposium on November 4th and 5th, 2024 at the Encore at Wynn in Las Vegas, Nevada. This two-day event will feature presentations from senior management of leading automotive and trucking companies, providing investors with insights into the industry's evolving dynamics.
The symposium will cover a comprehensive 'cradle to grave' look at the automotive ecosystem, including original equipment suppliers, automotive retailers, aftermarket service participants, and next-gen tech companies driving vehicle electrification. The event aims to help investors understand 'What's Next?' for the automotive space.
Presenting firms include notable companies such as AutoNation, AutoZone, CarParts.com, Dana Incorporated, Gentex , O'Reilly Automotive, and many others. For registration and inquiries, interested parties can contact James Carey or Miles McQuillen from Gabelli Funds.
GAMCO Investors, Inc. (OTCQX: GAMI) announced its assets under management (AUM) reached $32.1 billion as of September 30, 2024, compared to an adjusted $28.6 billion on the same date in 2023. The company expects to report third quarter 2024 diluted earnings between $0.67 and $0.73 per share, up from $0.52 per share in Q3 2023. GAMI, known for its research-driven value approach to equity investing (PMV with a Catalyst™), operates through two main subsidiaries: Gabelli Funds, and GAMCO Asset Management Inc. These entities manage a diverse range of investment products, including open-end and closed-end funds, ETFs, and separate accounts for institutional and private wealth clients.
Gabelli Funds is hosting its 2nd Annual PFAS Symposium on September 26, 2024, at The Harvard Club in New York City. The event will bring together experts, policymakers, and industry executives to discuss Per- and Polyfluoroalkyl Substances (PFAS), their uses, replacements, and remediation efforts in water treatment and other categories.
The symposium will feature company presentations, fireside chats, panel discussions, and one-on-one meetings. It aims to facilitate a comprehensive dialogue on the environmental and public health challenges posed by PFAS, which are widely used in industrial and commercial applications but raise concerns due to their toxicity and persistence in the environment.
The agenda includes presentations from various companies and organizations, including 374Water, Inc. (NASDAQ: SCWO), Arq, Inc. (NASDAQ: ARQ), the Environmental Protection Agency (EPA), and the National Association of Water Companies (NAWC), among others. The event will cover topics related to PFAS in water treatment, environmental products, and strategic initiatives in the field.
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