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Manny, Moe and Jack Loved By Mario Gabelli

The Pep Boys – Manny, Moe & Jack (NYSE:PBY)‘s stake has recently been raised in the equity portfolio of Mario Gabelli’s hedge fund Gamco Investors. Gamco disclosed ownership of almost 5.1 million shares of Pep Boys, equivalent to 9.5% of the company, a filing with the Securities and Exchange Commission showed. At the current price of the stock, the value of Gamco’s position in Kodak amounts to over $60.9 million.

Mario Gabelli

Pep Boys – Manny, Moe & Jack reported an increase in its sales by 0.4% on the year, to $527.6 million in the second quarter of the year. Adjusted operating profit of the company jumped to $19.4 million, versus $15.5 million. For the first six months of the year, the sales and profit of the company totalled $1.06 billion and $24.1 million respectively, against $1.05 billion in sales and $25 million profit announced for the first six months of 2012.

Pep Boys – Manny, Moe & Jack, a company engaged in shop and care of automobiles, could be found in the equity portfolios of nine hedge funds in the latest round of 13F filings, according to Insider Monkey’s database. And while, Mario Gabelli solidified his position as the hedge fund with the largest stake, some other “hedgies” also hold significant amounts of Pep Boys’ shares. As follows, at the end of the second quarter, Glenn J. Krevlin’s Glenhill Advisors disclosed ownership of almost 2.7 million shares, followed by Thomas Steyer’s Farallon Capital and Israel Englander’s Millennium Management, with 735,800 shares and 187,900 shares respectively, in Manny, Moe and Jack.

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