Billionaire Mario Gabelli‘s GAMCO Investors recently filed an amended Form 13D with the Securities and Exchange Commission, in which it reported holding in aggregate with its affiliates 1.37 million shares of Communications Systems Inc (NASDAQ:JCS), which account for 15.48% of the company’s outstanding stock. Out of that aggregate amount GAMCO solely owns 587,577 shares or 6.65% of Communications Systems’ shares. The aggregately-owned amount represents an increase of about 380,000 shares, as GAMCO Investors and its affiliates reported holding 996,873 Communications Systems’ shares in its previous amended 13D filing on the company, in March. GAMCO solely held 447,875 shares at that time.
Communications Systems (NASDAQ:JCS) is a provider of physical connectivity infrastructure products and services for the global deployment of broadband networks that operates in three sectors: Transition Networks, JDL Technologies, and Suttle. Over the past 12 months, the company’s shares have lost 41.05%. Recently, Communications Systems (NASDAQ:JCS) disclosed its financial results for the first quarter of 2016, reporting a loss per share of $0.28 and revenue of $24.7 million, largely in-line with expectations of a loss per share of $0.27 and revenue of $25 million.
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GAMCO Investors disclosed the most valuable position in Communications Systems (NASDAQ:JCS) at the end of March among the funds in our database, worth around $3.31 million. The second-biggest position was reported by Jim Simons’ Renaissance Technologies, and was valued at $2.01 million.
You can access the original SEC filing by clicking here.
Ownership Summary Table
| Name | Sole Voting Power | Shared Voting Power | Sole Dispositive Power | Shared Dispositive Power | Aggregate Amount Owned Power | Percent of Class |
|---|---|---|---|---|---|---|
| Gabelli Funds | 392,000 | 392,000 | 392,000 | 4.44% | ||
| GAMCO Asset Management Inc. I.D. No. 13-40445 | 587,577 | 587,577 | 587,577 | 6.65% | ||
| Teton Advisors, Inc. I.D. No. 13-4008049 | 378,590 | 378,590 | 378,590 | 4.29% | ||
| GGCP, Inc. I.D. No. 13-3056041 | 0.00% | |||||
| GAMCO Investors, Inc. I.D. No. 13-400786 | 0.00% | |||||
| Associated Capital Group, Inc. I.D. No. 47-3965991 Check the appropriate box if a member of a group (SEE INSTRUCTIONS) (a) (b) | 0.00% | |||||
| Mario J. Gabelli | 9,000 | 9,000 | 9,000 | 0.10% |
