Mario J. Gabelli, a director at Gabelli Multimedia Trust Inc. (NYSE:GGT), recently acquired 527 shares of the company's common stock. The shares were purchased at a price of $4.76 each, totaling approximately $2,508. Following this transaction, Gabelli holds 980,001 shares directly. Additionally, Gabelli has indirect ownership through various entities, including Associated Capital Group (NYSE:AC), Inc., Gabelli & Company Investment Advisers, Inc., GGCP, Inc., and GPJ Retirement Partners, with respective holdings of 432,582, 2,918, 1,171,396, and 33,500 shares. Gabelli, who is also a control person of the adviser, disclaims beneficial ownership of shares held by these entities beyond his indirect pecuniary interest.
InvestingPro Insights
Mario J. Gabelli's recent acquisition of Gabelli Multimedia Trust Inc. (NYSE:GGT) shares aligns with several key insights from InvestingPro. The trust's commitment to shareholder value is evident in its dividend policy. According to InvestingPro Tips, GGT "pays a significant dividend to shareholders" and "has maintained dividend payments for 15 consecutive years." This consistency is particularly noteworthy given the current dividend yield of 18.54%, as reported by InvestingPro Data.
The trust's financial health appears stable, with InvestingPro Tips indicating that GGT is "profitable over the last twelve months." This profitability is reflected in the reported gross profit of $3.7 million for the last twelve months as of Q2 2024, with an impressive gross profit margin of 100%.
However, investors should note that the InvestingPro Tips also suggest that the "valuation implies a poor free cash flow yield," which could be a point of consideration for potential investors. The current P/E ratio of 48.97 might indicate that the stock is priced at a premium compared to its earnings.
For a more comprehensive analysis, InvestingPro offers additional tips and metrics that could provide deeper insights into GGT's financial position and market performance. Investors interested in a fuller picture might consider exploring the additional tips available through the InvestingPro product.
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