GAMCO Boosts Stake in Magnetek Inc (MAG); Trims Position in AMC Networks Inc (AMCX)

In a newly amended filing with the Securities and Exchange Commission, GAMCO Investors, managed by Mario Gabelli, has disclosed owning 150,271 shares of Magnetek Inc (NASDAQ:MAG). The stake is equal to 4.60% of common stock and represents an increase from 138,120 shares the fund disclosed in its latest 13F filing. Overall, GAMCO, together with Gabelli Funds and Teton Advisors, holds an aggregate of 334,522 shares, equal to 10.25% of the stock.

Mario Gabelli

Magnetek Inc (NASDAQ:MAG) is a provider of Energy Engineered digital power and motion control systems used in mobile hydraulic, overhead material handling, elevator, and mining applications. The company has a market cap of $75.10 million. Shares of the company rose 0.48% on Wednesday to $23.00. The stock has a 52 week high of $25.75 and a 52 week low of $16.22.

Aside from Gamco, Chuck Royce’s Royce & Associates holds 209,951 shares of Magnetek Inc (NASDAQ:MAG) and Renaissance Technologies, managed by Jim Simons, owns 164,390 shares of the company.

In another amended filing, Gamco has revealed trimming its stake in AMC Networks Inc (NASDAQ:AMCX) to 2.05 million shares from 2.09 million shares. The position amasses 3.39% of common stock. In aggregate, Gamco, along with Mario Gabelli and others, owns 3.27 million shares, representing 5.39% of the stock.

AMC Networks Inc (NASDAQ:AMCX) is engaged in operating several of cable television’s most recognized brands delivering high quality content to audiences and a valuable platform to distributors and advertisers. The company has a market cap of $4.40 billion.

For the first quarter ended March 31, 2014, the company reported an increase in net income from continuing operations to $72 million, or $0.99 per diluted share, compared with $62 million, or $0.85 per diluted share, in the first quarter of 2013. The company’s net revenues rose $143 million, or 37.3%, to $525 million over the same quarter of last year.

On Wednesday, shares of AMC Networks Inc (NASDAQ:AMCX) edged up by 0.43% to $60.88. The consensus average target price for the company’s stock is $75.36, while the consensus average recommendation is ‘Overweight.’

Disclosure: none

blog comments powered by Disqus
Insider Monkey Headlines
Insider Monkey Small Cap Strategy
Insider Monkey Small Cap Strategy

Insider Monkey beat the market by 44 percentage points in 21 months Learn how!

Lists

The Top 10 States With Fastest Internet Speeds

10 Best Places to Visit in USA in August

Top 10 Cities to Visit Before You Die

Top 10 Genetically Modified Food In the US

15 Highest Grossing Movies Opening Weekend

5 Best Poker Books For Beginners

10 Strategies Hedge Funds Use to Make Huge Returns

Top 10 Fast Food Franchises to Buy

10 Best Places to Visit in Canada

Best Summer Jobs for Teachers

10 Youngest Hedge Fund Billionaires

Top 10 One Hit Wonders of the 90s

Fastest Growing Cities In America

Top 10 U.S. Cities for Freelancers

Top 9 Most Popular Free iPhone Apps

Top 10 Least Expensive Private Business Schools in the US

Top 15 Most Expensive Countries in the World – 2014

Top Businesses to Invest In

Top 5 Things You Might Be Doing Wrong With Your Business

Top 5 Strategic Technology Trends in 2014

Top Rags to Riches Stories

Parenting Behavior That Promotes Future Leaders

Top 5 Mistakes Made by Small Businesses

Top 5 Most Common and Potentially Devastating Financial Blunders

Top 5 Highest Paying Jobs for Web Designers

Top 6 Most Respected Professions that Also Pay Well

Top 5 Pitfalls Investors Should Avoid

Top 6 Lawyers and Policy Makers Under 30

Top 6 New Year’s Resolutions for Entrepreneurs

Top 7 Locations to Check in on Facebook

Top 5 Mistakes made by Rookie eBay Sellers

Top 7 eBook Publishers in 2013

Top 6 Health Industry Trends in 2014

5 Lessons for Entrepreneurs from Seth Godin

Top 5 Success Tips from Jordan Belfort – the Wolf of Wall Street

Best Master’s in Finance Degree Programs

Top 6 Earning Celebrities Over 50

The most expensive sports to play

Top 7 Earning Celebrities Under 25

Best 7 Online Courses to Take: Free Finance MOOCs

Top 6 Bad Habits that Promote Failure

20 Most Valuable Soccer Teams in the World in 2013

12 Most Expensive Countries for Foreign Students

Top 30 Most Influential Women in the World

Top 20 Most Expensive New Year Eve Shows

Top 5 Best Vocational Careers

Top 10 Jobs for 2014 by Salary Gain (Predictions)

Top 5 Digital Trends for 2014

Top 6 Things You Can Do To Increase Your Productivity

Top 9 Trending Smartphones in 2013

Subscribe

Enter your email:

Delivered by FeedBurner

X

Thanks! An email with instructions is sent to !

Your email already exists in our database. Click here to go to your subscriptions

Insider Monkey returned 47.6% in its first year! Wondering How?

Download a complete edition of our newsletter for free!