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GAMCO Investors reported a second quarter net income of $17.3 million for 2022, up slightly from $17.1 million in 2021. GAAP earnings increased to $0.66 per share, compared to $0.64 per share last year. However, assets under management (AUM) decreased to $28.7 billion from $34.6 billion year-over-year. Revenues fell to $65.6 million from $75.6 million, driven by lower investment advisory fees. Operating income rose to $28.3 million, aided by a $7.9 million waiver of CEO compensation. GAMCO maintained a strong balance sheet with $177.3 million in cash and investments.
GAMCO Investors, Inc. (NYSE: GBL) announced expected diluted earnings for Q2 2022 between
GAMCO Investors, Inc. (NYSE: GBL) has appointed Alexis Glick to its Board of Directors. Glick, a former CEO of GENYOUth and a Fox Business Network co-founder, brings extensive financial and media experience. Mario Gabelli, Chairman of GAMCO, expressed enthusiasm over Glick's appointment, citing her background and energy as valuable to shareholders. Glick stated her excitement about contributing to GAMCO, a leader in asset management known for its research-driven investment strategies across various financial products.
GAMCO Investors reported strong Q1 2022 results, with a net income of $17.5 million, up $1.5 million year-over-year. GAAP earnings per share increased to $0.66 from $0.59 in Q1 2021. Revenues rose to $69.6 million, driven by growth in investment advisory fees. GAMCO ended the quarter with $131.5 million in cash and investments. The firm continued its commitment to ESG initiatives and launched new semi-transparent ETFs focused on sustainability and automation. Additionally, shareholders have designated $48 million in charitable contributions since 2013, showcasing corporate responsibility.
GAMCO Investors, Inc. (NYSE: GBL) announced its expected diluted earnings for Q1 2022 to be between
GAMCO Investors, Inc. (NYSE: GBL) has initiated a tender offer to purchase up to $10 million of its 2-Year Puttable Subordinated Notes due 2023. The offer price is set at $1,014 per $1,000 principal amount for validly tendered Notes. The offer expires at April 25, 2022. The offer is not contingent on financing and will accept all Notes if less than $10 million worth is tendered. As of March 18, 2022, total outstanding Notes were $50,999,000. GAMCO intends to fund this offer with cash on hand.
GAMCO Investors, Inc. (NYSE:GBL) has appointed Douglas R. Jamieson to its Board of Directors. With over 40 years at GAMCO, Jamieson has held key roles including Executive Vice President and Chief Operating Officer of GAMCO Asset Management and President and CEO of Associated Capital Group since its spinoff in 2015. GAMCO Investors is renowned for its research-driven equity investing and manages various investment strategies through subsidiaries, serving a diverse client base including institutions and individual investors.
GAMCO Investors (NYSE: GBL) anticipates reporting fourth quarter 2021 diluted earnings between
GAMCO Investors (NYSE: GBL) is set to launch the Gabelli Asset ETF (NYSE: GAST) on January 3, 2022. This team-managed fund aims for capital appreciation by investing in firms involved in automation, robotics, and related technologies. Notably, the first $25 million in assets will incur no fees. The investment team includes experienced professionals like Brett Kearney, Justin Bergner, and Hendi Susanto. The ETF will provide limited information to traders, which could impact pricing. As of September 30, 2021, GAMCO managed $33.5 billion in assets.
GAMCO Investors (NYSE: GBL) has created a pool of over $13 million for registered shareholders to make charitable contributions. This initiative follows a $0.50 per share shareholder designated charitable contribution (SDCC) announcement, increasing total contributions to over $100 million since 2013. Shareholders must register their shares in their name by December 21, 2021, to participate. GAMCO will distribute contribution forms to registered shareholders after this date, with completed forms due by January 21, 2022. Charities must be recognized 501(c)(3) organizations.
