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Four Recent Mario Gabelli Buys and Four Recent Sells: MYE, LGL, SNSTA, NAVI, GGT, PNNW, TVL, SLI

Mario Gabelli has been making a number of transactions since the close of the last reporting period. Below are his four most recent purchases and his four most recent sells. None of the positions are new, and none of the sales completely closed out positions. To get access to these real time picks, sign up to be a member of GuruFocus and visit here.


Myers Industries (MYE): Myers Industries is a plastics maker. Despite a difficult economic period over the past few years, the company still pays a 2.8% dividend. Gabelli added to his position in Q4 2010 by buying nearly 9 million shares. He made a large sale on January 4, and since then has slightly added to his holdings twice, on March 29 and April 4. He currently owns 4.4% of the company.


The LGL Group (LGL): Gabelli more than doubled his holdings in The LGL Group with an April 4 purchase. He first bought into the company in Q2 2010 and has steadily been increasing his position since then. He currently owns 3.7% of the company. The LGL Group is an electronic component manufacturer with operations in the United States and India.


Sonesta International Hotels (SNSTA): Gabelli has been trading around his position in Sonesta. He owned nearly 24% of the company in Q4 2010, and dramatically reduced it to 4.9% on February 16. Most recently he made a very small purchase on March 29. Sonesta International is a hotel operator, primarily owning and managing properties in destination locations.


NaviSite (NAVI): NaviSite is an internet application service provider that is currently being taken over by Time Warner at $5.50 per share. Gabelli first bought shares in Q3 2010 at prices under $3. He doubled his position in Q4. After the merger was announced on February 1, he dramatically increased his position from about 30,000 shares to 1.5 million on March 25. Either he feels that a higher offer may arise, or he’s just looking for a place to park some money. His purchase price on March 28 was for $5.48.


Gabelli Global Multimedia Trust (GGT): GGT is a closed end fund managed by Gabelli Funds. The fund is currently in a rights offering period. Three rights allow a shareholder to purchase one additional share at $7. Shares are currently trading around $7.82. Gabelli has sold shares twice in the past few months, on December 14 and April 5. He now owns 0.58% of the outstanding shares.


Pennichuck Corp. (PNNW): Gabelli ratcheted up his position in Pennichuck in Q4 2010 and has been selling it since November 19. His most recent sale was on April 5 at $28.28. After the sales, Gabelli owns 7.88% of the outstanding shares. Pennichuck is at 52 week highs, so Gabelli has done well over his holding period. The company is primarily a water utility and also has some real estate holdings. Shares are yielding 2.6%.


LIN TV Corp. (TVL): LIN TV operates affiliated television stations in the United States. Gabelli has owned shares since 2008. He dramatically decreased his position on April 4 and now owns less than 2% of the outstanding shares after owning nearly 8% of the company in Q4 2010.


SL Industries (SLI): Gabelli has also owned shares in SL Industries since 2008 and he also dramatically decreased his position on April 4. In Q4 2010 he owned 21% of the company. Today he owns just under 2%. Shares have climbed nearly 25% since the New Year. SL Industries manufactures power electronics and other products for a variety of industries such as medical, aerospace, telecom, and transportation.

Disclosure: No positions

The Purchase Price

About the author:

Steven Kiel
Steven Kiel is the president and chief investment officer for Arquitos Capital Management, a Virginia-based investment management firm. He is a graduate of George Mason School of Law and a captain in the Army Reserves. He manages two spoke funds, The Freedom Fund, a value-oriented portfolio, and The Hayek Fund, a portfolio dedicated to free market principles. He can be contacted at steven.kiel@arquitos.com or through the firm's website at www.arquitos.com.

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