One of the largest holders of Gaylord Entertainment has been busy buying thousands of shares in recent weeks, lifting its stake to 13.5 percent.
The twist this time: Rather than buying a beaten-up stock in the low $20s as they did in the fall, the team at Mario Gabelli's GAMCO Investors have since late February been paying about $30 for Gaylord.
GAMCO's managers now control more than 6.6 million Gaylord shares, trailing only TRT Holdings and Columbia Wanger. Gabelli, who has been an investor in Gaylord for some two decades, has proposed that investors vote down the proposed extension of a 22 percent poison pill plan. In their recent proxy statement, Gaylord officials did not take a position on the upcoming vote, saying they view it "as an opportunity for stockholders to express their views on this subject without being influenced by any recommendation that the Board might otherwise make."
Shares of Gaylord (Ticker: GET) were changing hands Monday afternoon at $30.21. Year to date, they're up about 25 percent.