Cornerstone Advisors LLC Reduces Stock Holdings in General American Investors, Inc. (NYSE:GAM)

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 first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund 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 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Wells Fargo & Company MN increased its stake in 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 worth $293,000 after purchasing an additional 1,418 shares during the period. Envestnet Asset Management Inc. increased its stake in General American Investors by 17.6% during the fourth quarter. Envestnet Asset Management Inc. now owns 31,898 shares of the investment management company's stock worth $1,627,000 after purchasing an additional 4,783 shares during the period. Raymond James Financial Inc. purchased a new stake in General American Investors during the fourth quarter worth about $797,000. Cohen & Steers Inc. increased its stake in General American Investors by 19.8% during the fourth quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company's stock worth $11,328,000 after purchasing an additional 36,746 shares during the period. Finally, Guggenheim Capital LLC increased its stake in General American Investors by 18.2% during the fourth quarter. Guggenheim Capital LLC now owns 27,749 shares of the investment management company's stock worth $1,415,000 after purchasing an additional 4,282 shares during the period. Institutional investors and hedge funds own 36.85% of the company's stock.

General American Investors Stock Up 1.2%

NYSE:GAM traded up $0.71 on Friday, reaching $58.38. 10,445 shares of the company's stock were exchanged, compared to its average volume of 22,175. The business has a fifty day moving average of $56.09 and a 200-day moving average of $52.86. General American Investors, Inc. has a 52-week low of $41.80 and a 52-week high of $58.42.

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.