Gabelli and GAMCO Further Increase Holding Of Griffin Land & Nurseries, Inc. (GRIF)

Mario Gabelli‘s GAMCO Investors has revealed another move: an increase in its holding of Griffin Land & Nurseries, Inc. (NASDAQ:GRIF) stock. According to a recent filing with the Securities and Exchange Commission, Gabelli and GAMCO have increased their stake to 1.83 million shares, which account for approximately 35.72% of the common stock. This move comes after a number of additions to this position made by Gabelli in this second quarter, the most recent one being at the end of May.

Mario Gabelli

Among the funds that we track, only another one has Griffin Land & Nurseries, Inc. (NASDAQ:GRIF) in its portfolio: Royce & Associates. Chuck Royce, the manager of the fund, has decided to reduce exposure to this stock by 5% during the first quarter of the year. In its latest 13F filing, Royce & Associates has reported ownership of approximately 47,750 shares valued at $1.44 million.

Griffin Land & Nurseries, Inc. (NASDAQ:GRIF) engages in real estate business and landscape nursery. The stock has been in a downtrend since the start of the year and has depreciated by 20% to a current price of $26.89 per share. This gives the company a market cap of $138.39 million. Griffin Land & Nurseries, Inc. (NASDAQ:GRIF) also pays an annual dividend of $0.2 per share, which represents a yield of 0.80%. For the quarter ending February 28, 2014, the company posted revenues of $5.06 million and a loss of $0.21 per share.

Mario Gabelli is also optimistic about the prospects of Magnetek Inc (NASDAQ:MAG), having recently increased his and his fund’s holding of this stock to approximately 150,300 shares. There are a number of stocks Gabelli and GAMCO have reduced their exposure to recently, among them being AMC Networks Inc (NASDAQ:AMCX) – down to 2.05 million shares, Westwood Holdings Group Inc. (NYSE:WHG), reduced to 655,335 shares, and Ryman Hospitality Properties Inc. (REIT) (NYSE:RHP), which was trimmed to 4.94 million shares.

Disclosure: none.

 

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