Mario Gabelli Is Bullish On Micro-Caps Blyth & Communications Systems

Mario Gabelli recently filed a couple of Schedule 13D forms with the SEC, disclosing increases in his activist positions in micro-cap companies Blyth, Inc. BTH and Communications Systems, Inc. JCS. So, let’s take a look at these companies and the transactions that Gabelli made.

Blyth

Blyth is a multi-channel household products retailer that saw the funds affiliated with Mr. Gabelli (GAMCO, Gabelli Funds, Teton Advisors and GSI) substantially increase their exposure recently.

As of the end of the second quarter of the year, Mr. Gabelli had disclosed beneficial ownership of 287,183 shares of the company. Following the purchase of 1,975,933 shares, the investor holds 2,263,116 shares, representing 14.02 percent of the total shares outstanding.

This stake makes of Mr. Gabelli the largest institutional investor in the company – although it should be noted that founder, chairman and CEO Robert B. Goergen recently acknowledged ownership of 5,757,771 shares. Other big shareholders include Wells Fargo & Co., with 761,689 shares, and Ahmet Okumus hedge fund, Okumus Fund Management, with 657,132 shares.

Communications Systems

Communications Systems is the other micro-cap company that felt Mr. Gabelli’s bullishness recently. After a 128 percent surge in their stake, the funds affiliated with Mr. Gabelli (GAMCO, Gabelli Funds and Teton Advisors) and the investor himself beneficially own an aggregate of 903,847 shares, representing 10.34 percent of the total shares outstanding. This position makes of Mr. Gabelli the largest institutional investor of record.

Also betting on this company are Jim Simons’ Renaissance Technologies, which last disclosed ownership of 263,941 shares, and Dimensional Fund Advisors, with 632,544 shares.