General American Investors, Inc. (NYSE:GAM) Shares Sold by Cornerstone Advisors LLC

Key Points

• Cornerstone Advisors LLC reduced its stake in General American Investors by 30.7%, selling 62,112 shares and dropping its ownership to approximately 0.60% of the company worth $7,073,000.
• CEOs and directors at General American Investors were active in trading, with CEO Jeffrey W. Priest purchasing 1,141 shares while Director Arthur G. Altschul, Jr. sold 17,400 shares, representing significant changes in their respective ownership levels.
• General American Investors' stock has shown a recent increase, opening at $57.51 and experiencing a 12-month high of $58.19, indicating positive momentum in the market.

Cornerstone Advisors LLC lowered its stake in General American Investors, Inc. (NYSE:GAM - Free Report) by 30.7% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 140,413 shares of the investment management company's stock after selling 62,112 shares during the quarter. Cornerstone Advisors LLC owned about 0.60% of General American Investors worth $7,073,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in the stock. CWM LLC grew its holdings in General American Investors by 119.8% during the 1st quarter. CWM LLC now owns 1,321 shares of the investment management company's stock valued at $67,000 after buying an additional 720 shares in the last quarter. Tompkins Financial Corp bought a new stake in shares of General American Investors during the first quarter worth $232,000. First Manhattan CO. LLC. boosted its stake in shares of General American Investors by 8.4% during the fourth quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company's stock valued at $285,000 after purchasing an additional 434 shares during the period. Wells Fargo & Company MN boosted its stake in shares of General American Investors by 32.8% during the fourth quarter. Wells Fargo & Company MN now owns 5,745 shares of the investment management company's stock valued at $293,000 after purchasing an additional 1,418 shares during the period. Finally, Wealth Enhancement Advisory Services LLC purchased a new stake in shares of General American Investors during the first quarter valued at $303,000. Institutional investors own 36.85% of the company's stock.

General American Investors Price Performance

Shares of GAM stock traded up $0.71 during mid-day trading on Friday, hitting $58.38. The stock had a trading volume of 10,445 shares, compared to its average volume of 21,854. General American Investors, Inc. has a 12-month low of $41.80 and a 12-month high of $58.42. The firm's 50-day moving average is $56.01 and its two-hundred day moving average is $52.82.

General American Investors Profile

General American Investors Company, Inc is a publicly owned investment manager. The firm invests in the public equity markets of United States. It invests in growth stocks of companies. It makes investments in Information Technology, Financials, Consumer Staples, Consumer Discretionary, Retailing, Communication Services, Industrials, Health Care, Energy and Materials.