Mario Gabelli; Gamco Investors Bullish on MOCON (MOCO) But Sell Shares of Sevcon (SEV)
Mario Gabelli and Gamco Investors are bullish on MOCON, Inc. (NASDAQ:MOCO) but have trimmed exposure to Sevcon Inc (NASDAQ:SEV). In recent filings with the Securities and Exchange Commission, Gamco has reported decreasing its stake in Sevcon from 570,379 to 563,900 shares, with the current position accounting for 16.23% of the company's common stock. In the mean time, Gabelli has increased Gamco's holding of MOCON shares to 68,560, which represents 1.24% of the company's total number of shares outstanding.
According to our database, no other fund is holding Sevcon Inc (NASDAQ:SEV) shares. MOCON, Inc. (NASDAQ:MOCO), however, has caught the attention of some notable hedge fund gurus. Jim Simons of Renaissance Technologies has increased his fund's holding of this stock by 2% to 39,100 shares, valued at $535 thousand. J. Carlo Cannell, the manager of Cannell Capital, has, on the other hand, been reducing his fund's exposure to MOCON. During the third quarter of 2013, Cannell has reduced its stake by 36% to 141,798 shares, valued at a little over $1.9 million.
MOCON, Inc. (NASDAQ:MOCO) engages in the production and marketing of scientific and technical instruments. In 2013, the company's stock price has been trending sideways in the range of $13-$15 per share. At a current price of $13.84 per share, the company has a market cap of $76.8 million. The stock has a beta of 0.12 and pays an annual dividend of $0.44, which represents a yield of 3.2%. For the third quarter of 2013, the company posted revenues of $14.2 million and Earnings Per Share (EPS) of $0.24.
Sevcon Inc (NASDAQ:SEV) manufactures and markets motor controllers for hybrid electric vehicles. So far in 2013, shares have advanced 18% to a price of $4.72, with the price reaching a high of $5.83 in August. The stock has a beta of 0.86 and does not pay a dividend. The company has not yet filed 2013 third quarter financial statements. During the second quarter, Sevcon registered revenues of $8.6 million and EPS of $0.04.