Billionaire Mario Gabelli’s Most Bullish Picks For Q3

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GAMCO increased its stake in its largest small-cap bet, Ryman Hospitality Properties Inc (NYSE:RHP), by a relatively insignificant 20,041 shares to 5.03 million shares, or almost 10% of Ryman Hospitality Properties Inc (NYSE:RHP) common shares, with them being worth $267.2 million. On August 4, the Nashville, Tennessee-based hotel and resort REIT reported its second quarter results. The EPS for the quarter of $1.45 came in-line with analysts’ expectations, while the revenue of $274 million came in a tad below analysts’ consensus estimate of $274.05 million, though essentially in-line as well. In a research note published on August 6, analysts at JPMorgan Chase & Co reduced their price target on the stock to $60 from $61. David E. Shaw‘s D E Shaw increased its stake in Ryman Hospitality Properties Inc (NYSE:RHP) by 11% to over 400,000 shares during the first quarter of the year.

Moving on to GAMCO Investors’ third top pick with bullish action on it, Sony Corp (ADR) (NYSE:SNE). The fund increased its stake in the electronics giant by 3% or 185,360 shares during the April-June period, holding over 6.2 million shares of the company valued at nearly $176.42 million as of June 30. On July 30, the company reported its fiscal first quarter 2015 earnings for the period ended June 30. Although profits for the quarter tripled year-over-year to $676 million and net profit rose significantly to $794 million, its shares have still taken a big beating since then, as the company reported that its prominent movie-making and publishing arm, Sony Pictures has begun losing money. In the last few years the company has been struggling to get its past glory back. However, one segment in which it remains unbeaten is gaming consoles, where its PlayStation 4 had sales of 3 million this spring, more than double the sales of Xbox One and Xbox 360 combined. According to recent reports, the company is partnering with Japanese robotics company ZMP to create Aerosense, a drone company. Among the hedge funds we track, GAMCO Investors was the largest shareholder of Sony Corp (ADR) (NYSE:SNE) at the end of the first-quarter, followed by Jim Simons‘ Renaissance Technologies, which owned over 2.6 million shares.

Disclosure: None

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