Gabelli & Company, Inc.
Since 2002, Gabelli & Company has significantly expanded its institutional brokerage team. We currently have 24 research analysts and publish on approximately 450 companies, with an emphasis on small and mid-cap ideas. We host 7 annual research conferences and numerous non-deal roadshows throughout the country. We publish daily research notes and full reports utilizing our proprietary Private Market Value (PMV) with a catalyst methodology.
We have 8 institutional equity sales professionals, and 4 equity sales traders. Our trading desk operates on an agency-only basis with best execution our top priority. In September, we transitioned our clearing function to the Bank of New York's Pershing platform, for its enhanced technological capabilities and support. We offer 3 of the top algorithmic platforms, all of which include direct market access via smart routing, and utilize 4 separate floor brokers on the NYSE. We offer superior crossing capabilities for illiquid names, FIX connections via numerous vendors, and trading communication platforms such as Bloomberg and AIM.
Gabelli & Company's approach to fundamental analysis focuses on a company's free cash flow, earnings per share, and private market value (PMV), taking into account on and off balance sheet assets and liabilities.
Our analysts follow industries on a global basis, developing an operational understanding of each company, effectively becoming an expert. The analysts hone this expertise by continually visiting and speaking with company management, suppliers, competitors and customers. The objective of this process is to identify companies that trade at a significant discount to their intrinsic or private market value. PMV refers to the price an informed industrialist would pay to acquire a company in its entirety.
We examine industry dynamics and search for potential events or catalysts that may "unlock" value. We make recommendations to buy or sell as new information is analyzed, discussed and assimilated. Our research typically offers the longer-term viewpoint of a strategic or financial buyer. This gives us a clear understanding of values and allows us to gauge whether "Mr. Market" has mispriced the stock of the company in question, as we have witnessed to a large degree in recent weeks. This methodology has historically led us to identify a fair number of takeover targets, which often lead to bidding wars, recapitalizations, and going-private transactions.