Shaker Financial Services LLC Acquires New Position in General American Investors, Inc. $GAM

Key Points

• Shaker Financial Services LLC acquired a new stake of 29,187 shares in General American Investors (NYSE: GAM) in Q4, valued at about $1.714 million, representing roughly 0.12% ownership at quarter-end.
• Insiders purchased 12,957 shares in the last 90 days, led by VP Eugene S. Stark’s buy of 6,151 shares at an average $24.86, leaving insiders with about 7.93% ownership.
• Hedge funds and institutions own 36.85% of GAM, with notable increases from Allspring (397,812 shares, ~$24.75M) and Royal Bank of Canada (up 38.3% to 195,963 shares, ~$9.87M).

Shaker Financial Services LLC acquired a new stake in General American Investors, Inc. (NYSE:GAM - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 29,187 shares of the investment management company's stock, valued at approximately $1,714,000. Shaker Financial Services LLC owned 0.12% of General American Investors at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Royal Bank of Canada boosted its stake in General American Investors by 38.3% during the first quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company's stock worth $9,871,000 after buying an additional 54,223 shares during the period. Raymond James Financial Inc. boosted its stake in General American Investors by 2.2% during the second quarter. Raymond James Financial Inc. now owns 25,706 shares of the investment management company's stock worth $1,441,000 after buying an additional 550 shares during the period. Bank of America Corp DE boosted its stake in General American Investors by 34.2% during the second quarter. Bank of America Corp DE now owns 41,648 shares of the investment management company's stock worth $2,334,000 after buying an additional 10,607 shares during the period. Osaic Holdings Inc. boosted its stake in General American Investors by 41.6% during the second quarter. Osaic Holdings Inc. now owns 3,755 shares of the investment management company's stock worth $210,000 after buying an additional 1,103 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its stake in 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 worth $24,748,000 after buying an additional 30,217 shares during the period. Hedge funds and other institutional investors own 36.85% of the company's stock.

General American Investors Stock Up 1.1%

Shares of GAM stock opened at $63.79 on Friday. The company has a 50-day moving average of $60.63 and a two-hundred day moving average of $60.64. General American Investors, Inc. has a 1-year low of $47.49 and a 1-year high of $64.42.

Insider Activity

In related news, VP Eugene S. Stark bought 6,151 shares of the stock in a transaction on Wednesday, April 8th. The stock was bought at an average price of $24.86 per share, with a total value of $152,913.86. Following the completion of the purchase, the vice president directly owned 34,000 shares in the company, valued at $845,240. This represents a 22.09% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Anang K. Majmudar bought 1,700 shares of the stock in a transaction on Tuesday, February 3rd. The shares were bought at an average cost of $25.00 per share, with a total value of $42,500.00. Following the purchase, the insider owned 9,405 shares of the company's stock, valued at $235,125. This trade represents a 22.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last ninety days, insiders have acquired 12,957 shares of company stock valued at $322,723. 7.93% of the stock is currently owned by insiders.

General American Investors 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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