Mario Gabelli Trims Stake In Ryman Hospitality Properties Inc. (REIT) (RHP)

Mario Gabelli’s Gamco Investors has disclosed owning a 9.72% stake in Ryman Hospitality Properties Inc. (REIT) (NYSE:RHP), a new filing with the U.S. Securities and Exchange Commission showed. The stake contains 4.94 million shares of common stock, down from 4.96 million shares the fund disclosed previously.

Mario Gabelli

Nashville, Tennessee-based Ryman Hospitality Properties Inc. (REIT) (NYSE:RHP) specializes in group-oriented, destination hotel assets in urban and resort markets. The company has a market cap of $2.4 billion. Shares of the company traded up 1.73% to $48.26 on Monday. It has a 52 week high of $49.38 and a 52 week low of $32.97.

For Ryman Hospitality Properties Inc. (REIT) (NYSE:RHP) stock, analysts have the consensus average target price of $47.86, and the consensus average recommendation is ‘Hold.’ Last week, the company announced an additional senior secured $400 million term loan, adding to its existing credit agreement. The new term loan matures in January 2021.

On May 6, Ryman Hospitality Properties Inc. (REIT) (NYSE:RHP) reported financial results for the first quarter ended March 31, 2014. The company reported net income of $20.7 million in the first quarter, compared to $53.8 million in same period in 2013. Total Revenue rose 11.0% to $246.5 million, compared to $222.1 million in first quarter 2013. Adjusted EBITDA on a consolidated basis for first quarter 2014 increased 31.3% to $66.5 million, compared to $50.6 million for first quarter 2013, according to a statement.

Other largest shareholders of the company include Matt Sirovich and Jeremy Mindich’s Scopia Capital, which owns 1.99 million shares, and Zac Hirzel’s Hirzel Capital Management, which revealed ownership of 1.48 million shares as of the end of the first quarter of 2014.

In a recent CNBC’s Halftime Report program, Mario Gabelli revealed three of his top picks for the second quarter of 2014. Talking about the market in the second half, Gabelli said he likes Interpublic Group of Companies Inc (NYSE:IPG), International Game Technology (NYSE:IGT) and International Flavors & Fragrances Inc (NYSE:IFF).

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 52 percentage points in 24 months Click to see monthly returns in table format!

Lists

10 Cities with High Demand for Nurses

6 of the Worst Greeting Card Messages Ever Crafted

6 Ways to Make Money in ArcheAge and Build Your Empire

10 Foods To Eat To Lower Cholesterol Levels

The 10 Most Hated Television Characters of All Time

The 30 Worst Halloween Costume Ideas Ever Brought to Horrible Life

10 Vocational Skills in Demand Today with Jobs Waiting to be Filled

10 Best Places to Visit in Central and South America

The 10 Greatest Empires in History Which Nearly Conquered the World

The 6 Cheapest Boarding Schools In America 2015

5 Clear Reasons LoL is Better than DotA, Continues to Rule MOBAs

The Only 9 Teams with a Chance to Win the Super Bowl

The 15 Most Common Phobias in America that Induce Fits of Panic

Top 6 Least Expensive Tourist Destinations in 2014

Jim Goetz, Peter Fenton, Jim Breyer: Top 6 Venture Investors for 2014

Top 15 Billionaires in 2014

5 Pitfalls To Avoid When Buying a Franchise

Top 20 Medical Schools in the US – 2014 Rankings

4 Business Strategies that Turned Jamie Oliver into the World’s Richest Chef

6 Qualities That Make You A Good Team Player

10 High Paying Seasonal Jobs in America this Holiday Season

The 10 Busiest Shipping Lanes in the World

5 Most Valuable Brands in China

The 10 States with Highest Substance Abuse Rates Crippling Their Populace

The Top 10 Things to Do Before You Die That Will Echo for Eternity

The 10 Best Selling Items on Etsy

Top 10 Things to Do in Tokyo, the Greatest City in the World

10 Mistakes on Social Media that Can Harm You and Will Probably Get You Canned

The 10 Best Cities to Find Jobs in 2014

The 10 Most Controversial Songs Of All Time to Hit (and get Banned from) the Airwaves

The 20 Biggest IPOs in US History

The 10 Best Places to Visit in Mexico that Are Beautiful and Safe

7 Bad Habits that Age You Beyond Your Years

The 40 Best Fortune Cookie Sayings That Will Leave You Bemused, Befuddled, or Beguiled

10 Foods to Eat Before a Workout to Make Every Drop of Sweat Count

The 5 Best Documentaries On Netflix You Must See

The Most Heartwarming and Inspirational Story Of This Halloween Season, It Will Make You Cry and Jump For Joy

10 Best Party Songs of All Time to Bring the House Down With

5 New World Order Conspiracy Theories that Will Strangle the World

The 10 Highest Rated Movies of 2014

The 10 Largest Container Shipping Companies in the World

The 10 Largest Armies in the World: Who Should We Be Afraid Of?

Best Warren Buffett Quotes on Money You Need to Hear

The 10 Highest Suicide Rates by Profession

The 20 Most Underrated Movies of All Time

The 10 Fastest Growing Companies in America

The 10 Biggest Outlet Malls in USA

The 5 Most Popular Rap Songs of All Time

The 10 Countries that Eat the Most Meat

The10 Most Expensive Countries to Fly To

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!