Key Points
- Insider purchase: Craig Grassi bought 2,000 General American Investors shares at $23.08 each, spending $46,160 and increasing his holdings by 181.82% to 3,100 shares.
- Stock performance: GAM shares opened at $64.74 after declining 1.1%, with a 52-week range of $56.24 to $68.57.
- Institutional ownership: Several hedge funds increased their positions, and institutional investors and hedge funds collectively own 36.85% of the company.
General American Investors, Inc. (NYSE:GAM - Get Free Report) insider Craig Grassi bought 2,000 shares of the business's stock in a transaction that occurred on Tuesday, September 22nd. The shares were acquired at an average cost of $23.08 per share, for a total transaction of $46,160.00. Following the completion of the purchase, the insider owned 3,100 shares in the company, valued at $71,548. This trade represents a 181.82% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink.
General American Investors Trading Down 1.1%
General American Investors stock opened at $64.74 on Thursday. General American Investors, Inc. has a 52-week low of $56.24 and a 52-week high of $68.57. The company's 50 day moving average is $66.01 and its two-hundred day moving average is $63.85.
Institutional Trading of General American Investors
Hedge funds have recently modified their holdings of the stock. Lazard Asset Management LLC increased its holdings in General American Investors by 13.1% during the 1st quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company's stock worth $92,422,000 after purchasing an additional 183,051 shares during the period. Blue Bell Private Wealth Management LLC boosted its stake in shares of General American Investors by 10.2% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 810,682 shares of the investment management company's stock valued at $47,611,000 after buying an additional 75,259 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of General American Investors by 9.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 430,935 shares of the investment management company's stock valued at $25,197,000 after buying an additional 37,312 shares during the period. Altium Capital Management LLC grew its position in shares of General American Investors by 133.9% during the first quarter. Altium Capital Management LLC now owns 48,755 shares of the investment management company's stock worth $2,851,000 after buying an additional 27,910 shares in the last quarter. Finally, First Trust Advisors LP grew its position in shares of General American Investors by 10.1% during the first quarter. First Trust Advisors LP now owns 42,898 shares of the investment management company's stock worth $2,508,000 after buying an additional 3,940 shares in the last quarter. 36.85% of the stock is currently owned by institutional investors and hedge funds.
General American Investors Company Profile
(
Get Free Report)
General American Investors Company, Inc is a publicly traded closed-end investment company that seeks long-term capital appreciation through investments in a diversified portfolio of securities. The company's shares trade on the New York Stock Exchange under the symbol GAM.
Founded in 1927, General American Investors is one of the oldest closed-end investment companies in the United States. Its portfolio has historically included common stocks, convertible securities and other investments, with an emphasis on identifying companies that may offer attractive long-term growth potential.
The company invests primarily in publicly traded businesses across a range of industries and may hold investments in both U.S.
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