Mario Gabelli, chairman and chief executive officer of Gamco Investors Inc. (NYSE:GBL) purchased approximately 2.1 million shares of FSI International, Inc. (NASDAQ:FSII), a global supplier of surface conditioning equipment and technology, according to his latest 13G filing with the Securities and Exchange.
Based on the regulatory filing, the total value of the shares is more than $12.8 million. The shares were distributed to the different subsidiary companies controlled by Gabelli including GAMCO Asset Management Inc., Gabelli Funds LLC., Gabelli Securities Inc., and TETON ADVISORS INC A (PINK:TETAA).
GAMCO Asset Management added 380,000 shares to its portfolio with worth $2,360,311. Gabelli Funds spent $5,532,000 to purchase 865,800 shares while Gabelli Securities invested $4,420,967 to buy 717,027 shares. Teton Advisors acquired 100,000 shares worth $540,483.
Gabelli’s latest stock purchase of FSI International, Inc. (NASDAQ:FSII) represents 5.26 percent of his more than 39 million outstanding shares in the company. The stock value of FSI International is up by 0.16 percent at $6.18 per share during the afternoon trading on Tuesday, 4:00 PM.
Most recently, Gabelli through his subsidiary companies also bought more than 1.4 shares of Steel Excel, Inc. (OTC:SXCL) with almost $2 million market value.
In an interview with CNBC, Gabelli shared his opinion regarding the decision of venture capitalist Peter Thiel to sell a large chunk of his shares in Facebook Inc (NASDAQ:FB) immediately after the expiration of the lock-up period while still serving as member of the company’s board. Gabelli said there’s nothing wrong with Thiels decision because it is part of the venture capital process, investors need to make profit.
When asked about the suggestion of many for Thiel to resign from Facebook Inc (NASDAQ:FB)’s board, Gabelli responded “why not?” According to him, he would probably resign. Gabelli said, he does not recommend to an investor like himself to sit on the board of a public company with a large position and trading due to transparency issues.
During that segment on CNBC, Jim Carmer appeared to have a near meltdown when commenting on the sales of Facebook Inc (NASDAQ:FB) Shares by Peter Thiel. Mario Gabelli was able to keep calm during Jim Cramer’s panic attack.
In a another interview with CNBC’s Kudlow Report, Gabelli shared his top stock picks including Navistar International Corp (NYSE:NAV), The Boeing Company (NYSE:BA), Campbell Soup Company (NYSE:CPB), and Whole Foods Market (NASDAQ:WFM) based on the aging population and the aging infrastructure in addition to the index of leading economic indicators.