From GlobeNewswire: 2025-02-04 14:51:00

Gabelli reported Quarter End AUM of $31.7 billion, an Operating Margin of 32.3% for Q4, and $0.70 per Share Earnings. The Financial Highlights included $59,262 Revenue, $0.70 Diluted Earnings per Share, and $182.8 million in Cash, Cash Equivalents, and Investments with no Debt. The board authorized a 100% increase in the Quarterly Dividend and repurchased 1.3 million shares in Q4, increasing Buyback Authorization to 1.5 million shares.

Since its IPO in 1999, Gabelli has donated $80 million, including $48 million through the shareholder designated charitable contribution program. The firm’s board authorized the creation of a private foundation with an initial $5 million contribution. The revenue for Q4 included $55,502 from Investment advisory and incentive fees, while the firm saw an increase in Funds revenues due to higher average assets under management.

Expenses for Q4 included $26,593 in Compensation, $2,512 in Management fees, $5,634 in Distribution costs, and $5,370 in Other operating expenses. The operating margin was 32.3%, with non-operating income decreasing by $2.7 million. The effective income tax rate for Q4 was 25.7%, with $182.8 million in Cash, Cash Equivalents, and Investments and no Debt at December 31, 2024.

Assets under management on December 31, 2024, were $31.7 billion, a decrease of 1.6% from September 30, 2024. Assets in Mutual Funds were $8.1 billion, a 4.3% decrease, while Closed-end Funds had $7.3 billion, a 1.5% decrease. Institutional & Private Wealth Management assets were $10.7 billion, a 0.9% decrease, and SICAV assets were $9 million.

The Gabelli Growth Fund was up 35.8% in 2024, with a strong performance from technology companies. The Growth team highlighted the impact of AI, cloud computing, and successful companies like NVIDIA and Microsoft. The Gabelli Gold Fund was up 15.2%, driven by overseas central bank purchases, with strong performance from gold producers like Lundin Gold and Kinross.

Gabelli ETFs, including GGRW, GABF, and GCAD, had strong returns in 2024, with unique investment strategies. Gabelli launched its first active ETF, LOPP, in 2021, offering tax benefits to investors. The firm is focused on expanding its ETF suite and has seen steady growth in this market segment.

In Q4 2024, Gabelli returned $86 million to shareholders through a special dividend and share repurchases. The board declared a 100% increase in the Quarterly Dividend to $0.08 per share. The balance sheet showed $116.5 million in Cash and Cash Equivalents, $66.3 million in Investments, and $136.6 million in Stockholders’ equity as of December 31, 2024.



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