Anang Majmudar Purchases 1,000 Shares of General American Investors (NYSE:GAM) Stock

Key Points

• Anang Majmudar bought 1,000 shares of General American Investors (NYSE:GAM) on April 17 at an average price of $24.81, raising his direct holdings to 11,500 shares (a 9.52% increase) valued at about $285,315, as disclosed in an SEC filing.
• Shares traded up about 1.1% to $63.79 midday with volume slightly above average; the stock’s 50- and 200-day moving averages are roughly $60.6 and its 52-week range is $47.49–$64.42.
• Several institutional investors materially increased stakes in GAM (notably Saba Capital, Lazard, Blue Bell and Northwestern Mutual), and institutions now own about 36.85% of the company.

General American Investors, Inc. (NYSE:GAM - Get Free Report) insider Anang Majmudar bought 1,000 shares of General American Investors stock in a transaction dated Friday, April 17th. The shares were bought at an average cost of $24.81 per share, with a total value of $24,810.00. Following the completion of the transaction, the insider directly owned 11,500 shares in the company, valued at approximately $285,315. This trade represents a 9.52% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink.

General American Investors Trading Up 1.1%

Shares of NYSE:GAM traded up $0.68 during mid-day trading on Friday, reaching $63.79. The company had a trading volume of 35,082 shares, compared to its average volume of 33,123. The company's 50-day moving average price is $60.58 and its 200-day moving average price is $60.63. General American Investors, Inc. has a one year low of $47.49 and a one year high of $64.42.

Institutional Trading of General American Investors

Several hedge funds have recently made changes to their positions in GAM. Saba Capital Management L.P. grew its stake in shares of General American Investors by 2.2% during the 4th quarter. Saba Capital Management L.P. now owns 2,085,885 shares of the investment management company's stock worth $122,504,000 after acquiring an additional 44,324 shares during the period. Lazard Asset Management LLC boosted its position in General American Investors by 6.0% during the fourth quarter. Lazard Asset Management LLC now owns 1,397,623 shares of the investment management company's stock worth $82,082,000 after purchasing an additional 78,547 shares during the period. Blue Bell Private Wealth Management LLC grew its stake in 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 in the last quarter. Northwestern Mutual Wealth Management Co. lifted its holdings in General American Investors by 98,734.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 735,325 shares of the investment management company's stock worth $43,186,000 after purchasing an additional 734,581 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of General American Investors by 8.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 397,812 shares of the investment management company's stock valued at $24,748,000 after buying an additional 30,217 shares during the period. 36.85% of the stock is currently owned by institutional investors.

General American Investors Company Profile

General American Investors Company, Inc is a diversified closed-end management investment company listed on the New York Stock Exchange under the ticker GAM. The firm primarily allocates capital to equity and equity-related securities of publicly traded companies, aiming to generate long-term capital appreciation for its shareholders. Its flexible mandate allows investment across a broad range of industries and market capitalizations.

The company follows a value-oriented, fundamental research approach, conducting in-depth analysis to identify undervalued businesses with strong growth potential.

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