Fleetmatics Group Plc (FLTX): Billionaire Mario Gabelli’s GAMCO Investors Takes 6.08% Stake

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Billionaire Mario Gabelli‘s GAMCO Investors recently filed a Form 13D with the Securities and Exchange Commission in which it reported acquiring, together with its affiliates, 2.38 million ordinary shares of Fleetmatics Group Plc (NYSE:FLTX), which amass 6.08% of the company’s outstanding stock. Out of the aggregate amount, GAMCO solely owns 644,759 shares, which represent 1.65% of the company’s float. The acquisition represents a new addition to GAMCO’s portfolio.

Fleetmatics Group is a holding company that provides a variety of mobile workforce solutions for service-based enterprises. Recently, the company announced signing an agreement with Verizon Communications, upon which Verizon will buy Fleetmatics Group for $60 per share, or around $2.4 billion in total. There is little upside in a merger-arb play for the average investor at this point, as shares currently trade at $59.96. However, given its large position, GAMCO stands to make hundreds of thousands of dollars, having acquired its position at a more attractive average price.


Out of the 749 hedge funds that we track which filed 13F’s for the June quarter, 11 were bullish on Fleetmatics Group Plc (NYSE:FLTX) at the end of June, down by one from the end of the previous quarter. Among the biggest investors during the quarter were Jim Simons’ Renaissance Technologies, which held a position valued at $25.92 million, and Vivek Mehta and Aaron Husock’s ShearLink Capital, with a position worth around $10.76 million. Other smart money owners of the stock included Ken Griffin’s Citadel Investment Group, George Hall’s Clinton Group, and Edward Goodnow’s Goodnow Investment Group.

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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 1,257,216 1,257,216 1,257,216 3.21%
GAMCO Asset Management Inc. I.D. No. 13-40445 611,950 644,759 644,759 1.65%
Gabelli Securities, Inc. I.D. No. 13-3379374 421,222 421,222 421,222 1.07%
Gabelli Foundation, Inc. I.D. No. 94 10,000 10,000 10,000 0.03%
MJG Associates, Inc. I.D. No. 06-1304 6,400 6,400 6,400 0.02%
GGCP, Inc. I.D. No. 13-3056041 5,000 5,000 5,000 0.01%
GAMCO Investors, Inc. I.D. No. 13-400786 8,400 8,400 8,400 0.02%
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 31,000 31,000 31,000 0.08%

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Page 1 of 19 – SEC Filing

Washington, D.C. 20549
Under the Securities Exchange Act of 1934
Fleetmatics Group Plc
(Name of Issuer)
Ordinary Shares, nominal value €0.015 per share
(Title of Class of Securities)
(CUSIP Number)
David Goldman
GAMCO Investors, Inc.
One Corporate Center
Rye, New York 10580-1435
(914) 921-5000
(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)
______________________August 31, 2016________________________
(Date of Event which Requires Filing of this Statement)
If the filing person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of §§ 240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box .

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