Mario Gabelli is Dumping These 5 Stocks

2. Newell Brands Inc. (NASDAQ: NWL)

Number of Hedge Fund Holders:  25

Percentage Decline in Stake in Q2: 73%

Newell Brands Inc. (NASDAQ: NWL) is placed second on our list of 15 stocks Mario Gabelli is dumping. The company markets household products and operates from Georgia. According to the latest data, GAMCO Investors owned 7,500 shares in the firm at the end of the second quarter of 2021 worth $206,000. 

On August 2, investment advisory Wells Fargo upgraded Newell Brands Inc. (NASDAQ: NWL) stock to Equal Weight from Underweight and raised the price target to $26 from $23, noting that the advisory was not sure that the upgrade cycle for the firm was over. 

At the end of the second quarter of 2021, 25 hedge funds in the database of Insider Monkey held stakes worth $2 billion in Newell Brands Inc. (NASDAQ: NWL), up from 24 in the previous quarter worth $1.9 billion.