Mario Gabelli Is Bullish on The Pep Boys – Manny, Moe & Jack (PBY) and Diebold Incorporated (DBD)

In a couple of recent moves, Mario Gabelli’s GAMCO Investors and its affiliated funds, have raised the stakes in The Pep Boys – Manny, Moe & Jack (NYSE:PBY) and Diebold Incorporated (NYSE:DBD). The fund reported owning 6.32 million shares of Diebold, up from 5.66 million shares held earlier; and 7.62 million shares of The Pep Boys, versus 5.66 million owned before. The stakes represent 9.90% of the common stock and 13.65% respectively.

Mario Gabelli

Out of the aggregate amount, GAMCO holds 4.47 million shares of Diebold and 5.30 million shares of The Pep Boys.

The Pep Boys – Manny Moe & Jack (NYSE:PBY) provides shop and care for cars through their Supercenters and Service and Tire Centers. Revenues for the third quarter ending November 2, 2013 were $507.00 million, a decrease of 0.5% over the same quarter the previous year. There was a decrease in comparable sales by 2.8%.  Net earnings increased to $1.0 million against a net loss of $6.8 million for the same period last year. Among the hedge funds tracked by us, Glenhill Advisors, managed by Glenn J. Krevlin, held 2.82 million shares worth $35.22 million followed by Thomas Steyer’s Farallon Capital with 380,000 shares worth $4.75 million.

Diebold Incorporated (NYSE:DBD) provides integrated self-service delivery and security systems and services to the financial, commercial, government and retail markets. Apart from Gamco Investors, Sac Subsidiary’s Sigma Capital Management with 275,000 shares worth $8.04 million.

Gamco Investors has beaten the S&P 500 by a little over 2% per year since inception, and the fund bets on small caps has fared even better. The hedge fund approaches a company through the eyes of an acquirer as some businesses have more value in private hands than in public holdings. The focus is on cash flows rather than earnings. With over $17.03 billion in its equity portfolio, the fund adopts a multi sector strategy. It favors Services, Consumer Goods, and Industrial Goods over other sectors. The largest stake in its equity holdings was in Viacom Inc (NASDAQ:VIAB) with 3.45 million shares worth $289.09 million, followed by Directv (NASDAQ:DTV) with 4.72 million shares valued at $282.25 million at the end of the third quarter.

Gamco Investors recently increased their holdings in The Bon-Ton Stores, Inc. (NASDAQ:BONT) to 475,000 shares from 350,000 shares held earlier.

Disclosure: none

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