Mario Gabelli is Dumping These 5 Stocks

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In this article, we discuss the 5 stocks Mario Gabelli is dumping. If you want to read our detailed analysis of these stocks, go directly to Mario Gabelli is Dumping These 15 Stocks.

5. Pinnacle West Capital Corporation (NYSE: PNW)

Number of Hedge Fund Holders: 18  

Percentage Decline in Stake in Q2: 59%

Pinnacle West Capital Corporation (NYSE: PNW) is ranked fifth on our list of 15 stocks Mario Gabelli is dumping. The firm provides electric services and operates from Arizona. Government filings show that GAMCO Investors owned 3,500 shares in the company at the end of the second quarter of 2021 worth $287,000. 

On August 19, investment advisory Goldman Sachs downgraded Pinnacle West Capital Corporation (NYSE: PNW) stock to Sell from Neutral and lowered the price target to $73 from $85, highlighting that a challenging regulatory environment could weigh on the firm. 

Out of the hedge funds being tracked by Insider Monkey, Connecticut-based investment firm AQR Capital Management is a leading shareholder in Pinnacle West Capital Corporation (NYSE: PNW) with 642,112 shares worth more than $52 million. 

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