General American Investors, Inc. (NYSE:GAM) Short Interest Up 21.1% in March

Key Points

• Short interest up 21.1%: As of March 31 short interest rose to 9,086 shares (a 21.1% increase from March 15), though the short-interest ratio is just 0.2 days and shorted shares represent roughly 0.0% of the stock.
• Insiders are buying: Company insiders purchased 11,957 shares over the past three months (notably Anang K. Majmudar bought 1,700 shares at $25.00 and VP Eugene S. Stark bought 6,151 shares at $24.86), bringing insider ownership to 7.93%.
• Institutional interest and stock level: Institutions own 36.85% of the shares with several firms materially increasing positions, and the stock is trading near a one-year high around $63 with 50- and 200-day SMAs about $60.6.

General American Investors, Inc. (NYSE:GAM - Get Free Report) was the target of a large increase in short interest in March. As of March 31st, there was short interest totaling 9,086 shares, an increase of 21.1% from the March 15th total of 7,504 shares. Based on an average daily trading volume, of 47,340 shares, the short-interest ratio is presently 0.2 days. Approximately 0.0% of the shares of the stock are short sold.

Insider Buying and Selling

In other General American Investors news, insider Anang K. Majmudar purchased 1,700 shares of the firm's stock in a transaction that occurred on Tuesday, February 3rd. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $42,500.00. Following the transaction, the insider directly owned 9,405 shares in the company, valued at approximately $235,125. The trade was a 22.06% increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available through this link. Also, VP Eugene S. Stark purchased 6,151 shares of the firm's stock in a transaction that occurred on Wednesday, April 8th. The shares were acquired at an average price of $24.86 per share, for a total transaction of $152,913.86. Following the completion of the transaction, the vice president owned 34,000 shares in the company, valued at $845,240. The trade was a 22.09% increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders bought 11,957 shares of company stock valued at $297,913. 7.93% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General American Investors

Large investors have recently bought and sold shares of the business. Advisors Asset Management Inc. grew its position in General American Investors by 20.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 97,440 shares of the investment management company's stock worth $6,062,000 after acquiring an additional 16,734 shares during the last quarter. Waller Financial Planning Group Inc. bought a new stake in General American Investors during the 4th quarter worth approximately $1,149,000. Allspring Global Investments Holdings LLC grew its position in General American Investors by 8.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,812 shares of the investment management company's stock worth $24,748,000 after acquiring an additional 30,217 shares during the last quarter. King Luther Capital Management Corp bought a new stake in General American Investors during the 3rd quarter worth approximately $1,438,000. Finally, Neville Rodie & Shaw Inc. grew its position in General American Investors by 999.4% during the 4th quarter. Neville Rodie & Shaw Inc. now owns 294,147 shares of the investment management company's stock worth $17,275,000 after acquiring an additional 267,392 shares during the last quarter. 36.85% of the stock is currently owned by institutional investors.

General American Investors Stock Performance

NYSE GAM opened at $63.16 on Friday. General American Investors has a one year low of $47.49 and a one year high of $64.40. The stock's 50 day simple moving average is $60.58 and its 200 day simple moving average is $60.63.

About General American Investors

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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