Key Points
- Insider purchase: VP Eugene Stark bought 5,000 General American Investors shares at $22.75 each, investing $113,750 and increasing his holdings by 14.71% to 39,000 shares.
- Stock performance: GAM opened at $64.57, compared with a 50-day moving average of $66.01 and a 200-day average of $63.88. Its 12-month trading range is $56.24 to $68.57.
- Institutional ownership: Institutional investors own 36.85% of the company, with firms including Lazard Asset Management and Allspring Global Investments increasing their stakes.
General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark purchased 5,000 shares of the company's stock in a transaction dated Wednesday, September 23rd. The shares were bought at an average cost of $22.75 per share, for a total transaction of $113,750.00. Following the acquisition, the vice president owned 39,000 shares in the company, valued at approximately $887,250. The trade was a 14.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
General American Investors Price Performance
GAM opened at $64.57 on Friday. The firm has a 50 day moving average price of $66.01 and a 200-day moving average price of $63.88. General American Investors, Inc. has a twelve month low of $56.24 and a twelve month high of $68.57.
Hedge Funds Weigh In On General American Investors
Hedge funds and other institutional investors have recently modified their holdings of the company. Lazard Asset Management LLC boosted its stake in shares of 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 acquiring an additional 183,051 shares during the last quarter. Evolve Private Wealth LLC purchased a new stake in shares of General American Investors in the 2nd quarter worth $2,435,000. Allspring Global Investments Holdings LLC raised its holdings in 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 worth $25,197,000 after purchasing an additional 37,312 shares during the period. Capstone Investment Advisors LLC bought a new position in General American Investors in the 2nd quarter worth $2,285,000. Finally, Bank of America Corp DE purchased a new position in General American Investors during the second quarter valued at $1,948,000. 36.85% of the stock is owned by institutional investors.
About General American Investors
(
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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