Gamco Investors Latest Moves Involve The Bon-Ton Stores, Inc. (BONT), Coleman Cable, Inc. (CCIX) & Others

Gamco Investors, managed by Mario Gabelli, has tweaked several holdings in its equity portfolio, as revealed from latest filings with the Securities and Exchange Commission.

Mario Gabelli

According to one of the filings, Gamco Investors has been bullish on The Bon-Ton Stores, Inc. (NASDAQ:BONT), upping its position to 1.86 million shares, from 1.67 million held earlier. The stake amasses 10.60% of common stock. The fund has been raising its stake in the stock.

The Bon-Ton Stores, Inc. (NASDAQ:BONT) operates 273 department stores, offering national and private brand fashion apparel and accessories. Early this month the company disclosed that unfavourable winter weather conditions hit its sales for December. The company revised its FY13 outlook of comparable store sales, which it expects will decline by around 3.50%, and expects its earnings per diluted share to be in the range of -$0.30 to $0.15.

D E Shaw, managed by D. E. Shaw upped its stake in the company by 149% in the third quarter of 2013 and now has 280,306 shares in its equity portfolio. At the same time, Thomas M Grumbacher, Strategic Initiatives Officer at Bon Ton Stores Inc has sold 240,000 shares in November and now has 890,945 shares in its equity portfolio.

Coleman Cable, Inc. (NASDAQ:CCIX) is the next on the list. Gamco Investors has added 1.14 million shares, initiating the stake in its equity portfolio. The holding amasses 6.18% of Coleman’s common stock.

Coleman Cable, Inc. (NASDAQ:CCIX) designs, develops, manufactures and supplies electrical wire and cable products for consumer, commercial and industrial applications. Recently the firm raised its copper prices by 4% – 6%.

Thomas E. Claugus Gmt Capital also initiated a position in the company in the third quarter of 2013 and currently holds 210,666 shares.

In Ampco-Pittsburgh Corp (NYSE:AP), Gamco Investors has disclosed owning 1.78 million shares, up from 1.09 million held previously. Currently, the fund owns 17.15% of the company’s stock.

Ampco-Pittsburgh Corp (NYSE:AP) operates in two segments forged and cast rolls, and air and liquid processing. Last month, the company declared a quarterly dividend of eighteen cents per share, consistent with the dividends paid in the previous quarters.

In the last couple of months, Robert Paul, Chairman and CEO at Ampco-Pittsburgh has significantly trimmed his stake in the company by more than 70% and now holds 53,453 shares.

Jim Simons’ Renaissance Technologies, is another hedge fund interested in Ampco-Pittsburgh, with 56,800 shares in its equity portfolio.

Gamco Investors also revealed ownership of 7.29% of the Ascent Capital Group Inc (NASDAQ:ASCMA)’s Series A Common Stock. The position amasses 995,171 shares, down from 1.03 million held earlier.

Ascent Capital Group Inc (NASDAQ:ASCMA) is a holding company with 100% interest in Monitronics International Inc. Monitronics is a home security alarm monitoring company. Recently the company implemented a stock repurchase program, purchasing upto $25 million of its Series A Common Stock.

A couple of months back, John Malone, a large shareholder significantly trimmed his stake in the company by selling 351,734 shares. Michael Pohl, director at Ascent Capital has also been seen slicing his position in the company’s stock.

12 West Capital Management, run by Joel Ramin is invested in the company, with 567,177 shares, worth $45.73 million.

Gamco Investors’ largest investment is in Viacom, Inc. (NASDAQ:VIAB), with a reported value of $289.09 million.

Disclosure: none

Recommended Reading:

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BlackRock Inc. Goes Bullish on Bed Bath & Beyond Inc. (BBBY)

Cadian Capital Management Edges Up Stake in General Cable Corporation (BGC)

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