GREENWICH, Conn.--(BUSINESS WIRE)--Teton Advisors, Inc. (“Teton”) (OTCQX: TETAA) announced today that assets under management (“AUM”) were $1.4 billion at September 30, 2024 as compared to $1.3 billion at September 30, 2023.
Teton expects to report gross revenue for the third quarter of 2024 of $3.1 million compared to $3.1 million for the third quarter of 2023.
Teton’s operating revenue is primarily derived from its net investment advisory fees which were $2.7 million for the third quarter of 2024 as compared to $2.8 million for the third quarter of 2023.
Teton expects to report diluted earnings for the third quarter of 2024 in the range of $0.14 to $0.24 per share compared to $0.21 per share for the third quarter of 2023. The range spread of $0.10 for the third quarter of 2024 is due to the uncertainty surrounding the tax provision and the effect of amortization from a private client business acquisition, which will both be finalized in the coming weeks.
Teton will be issuing further details of its financial results in early November.
On October 3, 2024, Teton’s Board approved a $500,000 share repurchase plan.
About Teton Advisors, Inc.
Teton Advisors, Inc. is a specialist in smaller company investing, serving a diverse client base of institutional, high net worth and mutual fund investors under brands including Teton Westwood, Gabelli and Keeley. The company was founded on a commitment to uncover value by focusing on companies that are misunderstood or ignored by the market utilizing methodologies developed by investment pioneers Mario Gabelli and John L. Keeley, Jr. As active, fundamental investors, the Teton portfolio teams think independently and focus on identifying short-term market inefficiencies to generate long-term alpha. Teton's investment professionals share in the belief that being different is the cornerstone to discovering hidden value in equities. The Teton time-tested investment approaches can help set apart your client portfolios, delivering differentiated attributes to round out a broader portfolio. From modest beginnings over 40 years ago, to today, The Disciplined Discovery of Value(TM) has shaped the cornerstone for our clients' long-term success.
