Gabelli Downgrades GP Strategies (GPX) to Hold

Gabelli downgraded GP Strategies (NYSE: GPX) from Buy to Hold. Yesterday GP Strategies announced the acquisition of Prospero Learning Solutions.

"While not necessarily material, the transaction is indicative of GP's opportunity to consolidate good businesses in a fragmented industry and leverage its own reach," said Gabelli. "While we like GP's business and its ability to make accretive tuck-in acquisitions, we currently see less margin of safety."

For an analyst ratings summary and ratings history on GP Strategies click here. For more ratings news on GP Strategies click here.

Shares of GP Strategies closed at $24.71 yesterday.

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