Mario Gabelli, GAMCO Investors Increase Stakes in The Bon-Ton Stores & Ingles Markets

Mario Gabelli and his fund GAMCO Investors, reported in a couple of filings with the Securities and Exchange Commission some bullish moves made into their holdings in The Bon-Ton Stores, Inc. (NASDAQ:BONT), and Ingles Markets, Incorporated (NASDAQ:IMKTA). In The Bon-Ton Stores, GAMCO and Gabelli increased its exposure to over 1.2 million shares of the company, which are equal to 6.94% of the outstanding common stock of the company.

Mario Gabelli

Out of this position, GAMCO holds 637,397 shares, which represent an increase from 626,500 disclosed by the fund in its latest 13F.

In a separate filing, GAMCO disclosed a major stake in Ingles Markets. Mario Gabelli holds more than 2.6 million shares of the company, the stake amassing 19.74% of the company’s common stock. GAMCO’s share of the aggregate stake amounts to around 1.43 million shares. In the latest 13F, GAMCO disclosed holding slightly below 1.4 million shares of the company.

The stocks of both companies have gained momentum since the beginning of the year. However, while The Bon-Ton Stores’ share price increased by just over 5% since the beginning of the year, Ingles Markets’ stock experienced a boost of over 48%.

In addition to GAMCO, Jacob Gottlieb’s Visium Asset Management, and D. E. Shaw’s D E Shaw are also listed among The Bon-Ton Stores’ shareholders. They hold 156,771 shares, and 112,398 shares, according to our database, so their stakes are much less significant in comparison with Gabelli’s.

In Ingles Markets, Jim Simons’ Renaissance Technologies, and Ken Griffin’s Citadel Investment Group also hold stakes, their positions containing 61,574 shares, and 26,162 shares respectively.

Mario Gabelli and GAMCO have been always active in terms of reporting moves into their holdings. Among the major recent moves, we can mention Gabelli’s boost of its position in Edgen Group Inc (NYSE:EDG), in which he now holds 1.45 million shares. Also in Cablevision Systems Corporation (NYSE:CVC), Mr. Gabelli added around 10 million shares, upping the stake to a total of some 21 million shares.

Disclosure: none

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