Gabelli Continues To Recommend TD Ameritrade (AMTD)

Gabelli & Co. continues to recommend buying shares of TD Ameritrade AMTD. In a note to investors, Gabelli & Co. writes, "Reported earnings of $0.30 per share, beating our expectations of $0.29. Net new assets of $11.5B (an annualized organic rate of 12%) was much stronger than our expectations. DARTs for the quarter were 439,000, in line with our 440,000 estimate. We continue to recommend Buying AMTD with shares trading at 9x EBITDA of $1.6B. 2012 PMV of $27." Shares of AMTD are down 74 cents to $21.37, a loss of 3.35% on 1.6 million shares.