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GAMCO Investors Clarifies Its iGo, Inc. (IGOI) & Pre-Merger Intermec Inc. (IN) Positions

Mario Gabelli is one of the billionaires we track at Insider Monkey, and his GAMCO Investors has beaten the S&P 500 by a little over 2% per year since inception in 1986, and his small cap picks have done even better. GAMCO manages over $30 billion in assets, and Gabelli’s latest thoughts on Tesla are worth a read.

Today, however, Gabelli and his team are making the headlines for a different reason, this time for a pair of amended 13D filings. In a filing yesterday, Gamco noted that it owns 4.96% of iGo, Inc. (NASDAQ:IGOI) stock, and in a separate filing today, we can see that the fund owned a significant stake in Intermec Inc. (NYSE:IN) before its merger with Honeywell International Inc. (NYSE:HON).

Mario Gabelli

Regarding iGo, we already knew that Gamco was long on the mobile electronics and devices company via a filing. The purpose of the amendment is “to correct the Reporting Persons’ Initial Schedule 13D filed on September 12, 2013 that  incorrectly indicates the shares of the Issuer were held entirely by Teton Advisors. In fact, Teton Advisors held 4.96% of the Issuer with the balance being held in a GBL account.”

Regarding Gamco’s now defunct position in Intermec, we thought the schedule of his sale history would provide investors some insight into how the fund treated the stock before its merger with Honeywell. Intermec, which is involved in the RFID and AIDC devices business, originally announced the deal on Dec 10, 2012. Shareholders approved the deal in March 2013, and U.S. officials cleared it last Friday.

Here’s the history of Gabelli and Gamco’s sales of Intermec:

                 INFORMATION WITH RESPECT TO
                 TRANSACTIONS EFFECTED DURING THE PAST SIXTY DAYS OR
                 SINCE THE MOST RECENT FILING ON SCHEDULE 13D (1)
                                   SHARES PURCHASED        AVERAGE
                        DATE            SOLD(-)             PRICE(2)
 COMMON STOCK-INTERMEC INC.
          MARIO J. GABELLI
                       9/17/13            5,000-           10.0000
          MJG ASSOCIATES, INC.
             GABELLI INTERNATIONAL LIMITED
                       9/17/13           10,000-           10.0000
          GAMCO ASSET MANAGEMENT INC.
                       9/17/13        1,247,000-           10.0000
                       9/17/13        4,096,555-           10.0000
                       9/13/13            2,860-            9.9135
                       9/12/13           76,000-            9.9200
                       9/12/13           17,000-            9.9221
                       9/11/13           15,000-            9.9200
                       9/11/13           18,127-            9.9200
          GABELLI SECURITIES, INC.
                       9/17/13          253,392-           10.0000
                       9/17/13           40,111-           10.0000
                       9/13/13           12,300-           10.0089
                       9/13/13              706-           10.0089
             GABELLI ASSOCIATES LIMITED II E
                       9/17/13           92,600-           10.0000
             GABELLI ASSOCIATES LIMITED
                       9/17/13          193,000-           10.0000
                       9/13/13              900-           10.0089
             GABELLI ASSOCIATES FUND II
                       9/17/13          128,900-           10.0000
                       9/13/13              700-           10.0089
             GABELLI ASSOCIATES FUND
                       9/17/13          272,677-           10.0000
                       9/13/13            1,000-           10.0089
          TETON ADVISORS, INC.
                       9/17/13           80,000-           10.0000
          GABELLI FUNDS, LLC.
             GAMCO STRATEGIC VALUE
                       9/17/13          105,000-           10.0000
             GABELLI SMALL CAP GROWTH FUND
                       9/17/13          745,800-           10.0000
             GABELLI DIVIDEND & INCOME TRUST
                       9/17/13           58,172-           10.0000
             THE GDL FUND
                       9/17/13          500,000-           10.0000
             GABELLI ENTERPRISE M&A FUND
                       9/17/13          350,000-           10.0000
             GAMCO MERGER ARBITRAGE
                       9/17/13           72,800-           10.0000
             GABELLI ABC FUND
                       9/17/13          693,000-           10.0000
(1) UNLESS OTHERWISE INDICATED, ALL TRANSACTIONS WERE EFFECTED
    ON THE NYSE.
(2) PRICE EXCLUDES COMMISSION.
(3) THE TRANSACTIONS ON 9/17/13 WERE A RESULT OF THE COMPLETION OF THE
    MERGER OF THE ISSUER WITH HONEYWELL INTERNATIONAL INC.

To continue reading about Mario Gabelli’s investment philosophy, check this out.

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