General American Investors (NYSE:GAM) Reaches New 52-Week High - Time to Buy?

General American Investors, Inc. (NYSE:GAM - Get Free Report) hit a new 52-week high during mid-day trading on Wednesday . The company traded as high as $57.54 and last traded at $56.74, with a volume of 2657 shares traded. The stock had previously closed at $56.58.

General American Investors Stock Down 0.1%

The stock has a 50 day moving average of $54.26 and a 200 day moving average of $52.02.

Insider Transactions at General American Investors

In related news, CEO Jeffrey W. Priest bought 1,141 shares of the stock in a transaction dated Thursday, May 8th. The stock was bought at an average cost of $24.75 per share, with a total value of $28,239.75. Following the completion of the acquisition, the chief executive officer owned 18,268 shares of the company's stock, valued at $452,133. This trade represents a 6.66% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Arthur G. Altschul, Jr. sold 17,400 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were sold at an average price of $24.82, for a total value of $431,868.00. Following the transaction, the director directly owned 5,000 shares of the company's stock, valued at $124,100. This trade represents a 77.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders purchased 2,496 shares of company stock valued at $61,780 over the last quarter. Insiders own 8.33% of the company's stock.

Hedge Funds Weigh In On General American Investors

Several institutional investors have recently made changes to their positions in GAM. CWM LLC grew its holdings in General American Investors by 119.8% in the 1st quarter. CWM LLC now owns 1,321 shares of the investment management company's stock worth $67,000 after buying an additional 720 shares in the last quarter. PNC Financial Services Group Inc. grew its holdings in General American Investors by 8.6% in the 4th quarter. PNC Financial Services Group Inc. now owns 2,490 shares of the investment management company's stock worth $127,000 after buying an additional 197 shares in the last quarter. Tompkins Financial Corp bought a new position in General American Investors in the 1st quarter worth approximately $232,000. Tyler Stone Wealth Management grew its holdings in General American Investors by 8.5% in the 4th quarter. Tyler Stone Wealth Management now owns 4,878 shares of the investment management company's stock worth $249,000 after buying an additional 384 shares in the last quarter. Finally, First Manhattan CO. LLC. grew its holdings in General American Investors by 8.4% in the 4th quarter. First Manhattan CO. LLC. now owns 5,581 shares of the investment management company's stock worth $285,000 after buying an additional 434 shares in the last quarter. 36.85% of the stock is owned by institutional investors.

General American Investors Company 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.