GBL - GBL STOCK NEWS

GAMCO Investors, Inc. (NYSE:GBL) announced the appointment of Gordon D. Grender as Managing Director at Gabelli Asset Management UK. Grender, a seasoned portfolio manager, will manage the Gabelli Small Cap Growth fund, valued at $1.8 billion, which was launched in 1991. His experience includes over four decades in investment management, with previous roles at GAM International Management. The addition of Grender is expected to enhance GAMCO's active management capabilities, particularly in U.S. small-cap investments.

GAMCO Investors (NYSE:GBL) has appointed veteran portfolio manager Gordon D. Grender as Managing Director at Gabelli Asset Management UK. Grender will manage the $1.8 billion Gabelli Small Cap Growth fund. With extensive experience since 1974 and previous roles including portfolio manager at GAM International Management, he is expected to enhance GAMCO's investment strategies. This move aims to strengthen the firm's presence in the U.S. small cap market, capitalizing on active management opportunities amidst market distortions.

GAMCO Investors (NYSE:GBL) announced a change to the record date for its $0.25 per share shareholder designated charitable contribution (SDCC), up from $0.20, now set for February 28, 2021, instead of November 16, 2020. This initiative highlights the firm’s ESG commitment, having allocated nearly $37 million since the program's inception in 2013. The total charitable contributions since 1999 amount to approximately $62 million. Only 501(c)(3) recognized charities are eligible for these donations, which will be disbursed by Q2 2021.

GAMCO Investors (NYSE: GBL) reported Q3 2020 results, revealing revenues of $61.3 million, a decline from $75.3 million in Q3 2019. Operating income increased to $31.8 million compared to $29.6 million a year earlier, aided by waivers of CEO compensation. Net income rose to $16.4 million, leading to diluted earnings of $0.62 per share. Assets Under Management (AUM) averaged $30.3 billion but ended at $29.7 billion, down from $35.7 billion in 2019. The company declared a $0.25 per share shareholder designated charitable contribution, totaling an estimated $5.4 million. Cash and investments stood at $140.3 million at quarter-end.

The Gabelli Funds and Columbia Business School co-hosted a healthcare symposium discussing key topics in the industry, including vaccines, health policy, and virtual healthcare delivery. Key speakers included executives from Pfizer, Moderna, and Teladoc Health. The agenda featured panels on vaccines for COVID-19, trends in health policy and reimbursement, and the evolution of healthcare delivery in a virtual world. This event is part of Gabelli's effort to address pressing healthcare issues and enhance dialogue among industry leaders.

Gabelli Funds is hosting the 2nd Annual Columbia Business School Healthcare Symposium, addressing crucial healthcare topics. Co-hosted by Bunny Ellerin and Jing He, the event features discussions on vaccines, health policy trends, and virtual healthcare delivery. Notable speakers include executives from Pfizer, Moderna, and Teladoc Health. The symposium aims to provide insights into pressing healthcare issues and trends affecting the industry. For more details, visit the event registration page.

GAMCO Investors, Inc. (NYSE: GBL) is set to launch the Love Our Planet & People (LOPP) ETF, pending SEC approval, aimed at environmentally responsible investments. The firm will offer the first $100 million invested in the fund with no fees, emphasizing loyalty to existing clients. LOPP will focus on companies supporting sustainability, covering areas such as renewables and battery production, with a proprietary investment process aligned with ESG standards. This launch reflects GAMCO’s commitment to balancing profitability with environmental and social responsibility.

GAMCO Investors, Inc. (NYSE: GBL) announced its expected third quarter 2020 diluted earnings to be between $0.59 and $0.63 per share, rising from $0.50 per share in the same quarter of 2019. Additionally, the company's assets under management increased to $29.7 billion as of September 30, 2020, up from $29.4 billion at June 30, 2020. Full financial results will be disclosed in early November.

GAMCO Investors (NYSE: GBL) announced the launch of a new trust comprising nine Precidian ActiveShares actively managed ETFs. The first of these, the Love Our Planet & People Fund (LOPP), is scheduled to debut in November, pending SEC approval. This ESG-focused ETF will prioritize investments in companies that demonstrate sustainability and environmental responsibility, aiming to achieve capital appreciation while adhering to social screens and ESG criteria. GAMCO currently manages $29.4 billion in assets, leveraging a research-intensive investment approach.