Gamco Invs Inc Stock Price, News & Analysis

Gabelli Dividend & Income Trust (NYSE:GDV) has announced the continuation of its fixed monthly cash distributions policy. The Board of Trustees declared distributions of $0.11 per share for January, February, and March 2025. The distributions will be paid on January 24, February 21, and March 24, 2025, respectively. Based on current accounting records, the 2024 distributions comprise approximately 14% from net investment income and 86% from net capital gains on a book basis.

The Gabelli Utility Trust (NYSE:GUT) Board of Trustees has approved the continuation of its fixed monthly cash distributions policy, declaring $0.05 per share for January, February, and March 2025. The distributions will be paid on respective dates in each month. The Board continues to evaluate strategic opportunities in the current market environment. The Fund has maintained monthly distributions since October 1999. Currently, shares are trading at a premium to net asset value, which the Board believes may not be sustainable. The 2024 distributions comprise approximately 4% from net investment income and 96% return of capital on a book basis.

The Gabelli Convertible and Income Securities Fund (NYSE:GCV) has declared a $0.12 per share cash distribution payable on December 20, 2024, to shareholders of record on December 13, 2024. This fourth quarter distribution brings the total 2024 distributions to $0.48 per share, which is $0.18 higher than the 8% minimum annual distribution policy based on average NAV. The Fund's NAV has fluctuated between $3.63 and $3.86 over the past four quarters. The distribution may be treated as long-term capital gain or qualified dividend income, subject to applicable tax rates.

The Board of Trustees of Ellsworth Growth and Income Fund (ECF) has declared a $0.14 per share cash distribution payable on December 30, 2024. Shareholders of record as of November 22, 2024, can choose to receive the distribution in cash or beneficial shares. The Fund aims to pay either 5% of its trailing 12-month average month-end market price or meet minimum IRS distribution requirements. The distribution is taxable regardless of the payment method chosen, and shareholders must make their election by December 13, 2024. Those who don't make a choice will receive shares, with the amount determined on December 16, 2024, based on the lower of closing market price or net asset value.

Gabelli Funds and Columbia Business School are set to host their 6th Annual Healthcare Symposium at the Paley Center in New York City on November 15th, 2024. The half-day event will feature three major panel discussions focusing on surgical robotics, data interoperability, and atrial fibrillation treatments.

The symposium brings together healthcare executives and physicians to explore current and future industry trends. The agenda includes breakfast at 8:15am, followed by panel discussions featuring experts like Jeff Jonas, Gretchen Jackson, Michael Bouton, and Elaine Wan, among others. The event concludes at 12:20 with closing remarks.

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.