16,098 General American Investors, Inc. $GAM Shares Bought by Samalin Investment Counsel LLC

Key Points

• Samalin Investment Counsel increased its General American Investors stake by 63.8% in the third quarter, purchasing 16,098 shares and bringing its holdings to 41,332 shares worth approximately $2.62 million.
• Other institutional investors also expanded their positions, while institutional ownership reached 36.85% of GAM’s outstanding stock.
• Company insiders bought 15,000 shares worth $350,950 over the past 90 days. GAM shares opened at $63.75, compared with a 52-week range of $56.24 to $68.57.

Samalin Investment Counsel LLC boosted its stake in shares of General American Investors, Inc. (NYSE:GAM - Free Report) by 63.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 41,332 shares of the investment management company's stock after buying an additional 16,098 shares during the period. Samalin Investment Counsel LLC owned 0.17% of General American Investors worth $2,622,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also bought and sold shares of GAM. Lazard Asset Management LLC increased its holdings in shares of General American Investors by 13.1% in the 1st quarter. Lazard Asset Management LLC now owns 1,580,674 shares of the investment management company's stock valued at $92,422,000 after acquiring an additional 183,051 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in shares of General American Investors by 9.5% during 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 last quarter. Altium Capital Management LLC lifted its stake in shares of General American Investors by 133.9% during the 1st quarter. Altium Capital Management LLC now owns 48,755 shares of the investment management company's stock worth $2,851,000 after purchasing an additional 27,910 shares during the last quarter. First Trust Advisors LP lifted its stake in shares of General American Investors by 10.1% during the 1st quarter. First Trust Advisors LP now owns 42,898 shares of the investment management company's stock worth $2,508,000 after purchasing an additional 3,940 shares during the last quarter. Finally, Evolve Private Wealth LLC bought a new stake in General American Investors during the second quarter valued at about $2,435,000. Institutional investors own 36.85% of the company's stock.

Insiders Place Their Bets

In other news, insider Craig Grassi purchased 2,000 shares of the firm's stock in a transaction on Tuesday, September 22nd. The stock was acquired at an average cost of $23.08 per share, with a total value of $46,160.00. Following the completion of the transaction, the insider owned 3,100 shares in the company, valued at $71,548. This represents a 181.82% increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Treasurer Samantha Jin purchased 2,000 shares of the stock in a transaction dated Thursday, September 17th. The stock was purchased at an average price of $23.69 per share, for a total transaction of $47,380.00. Following the completion of the acquisition, the treasurer directly owned 2,000 shares in the company, valued at approximately $47,380. This represents a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders bought 15,000 shares of company stock worth $350,950. 7.93% of the stock is owned by corporate insiders.

General American Investors Stock Up 0.1%

Shares of GAM stock opened at $63.75 on Monday. The stock's 50-day moving average is $65.45 and its 200 day moving average is $64.62. General American Investors, Inc. has a 1-year low of $56.24 and a 1-year high of $68.57.

General American Investors Profile

Want to see what other hedge funds are holding GAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General American Investors, Inc. (NYSE:GAM - Free Report).

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