General American Investors (NYSE:GAM) Sets New 1-Year High - Here's What Happened

General American Investors, Inc. (NYSE:GAM - Get Free Report)'s stock price reached a new 52-week high during trading on Wednesday . The stock traded as high as $57.81 and last traded at $57.49, with a volume of 108 shares trading hands. The stock had previously closed at $57.21.

General American Investors Stock Up 0.1%

The firm has a fifty day moving average of $55.33 and a 200 day moving average of $52.48.

Insider Buying and Selling at General American Investors

In other General American Investors news, CEO Jeffrey W. Priest bought 1,141 shares of the company's stock in a transaction that occurred on Thursday, May 8th. The shares were purchased at an average price of $24.75 per share, with a total value of $28,239.75. Following the completion of the acquisition, the chief executive officer directly owned 18,268 shares of the company's stock, valued at $452,133. This represents a 6.66% increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Arthur G. Altschul, Jr. sold 17,400 shares of the company's stock in a transaction on Thursday, May 8th. The shares were sold at an average price of $24.82, for a total transaction of $431,868.00. Following the completion of the transaction, the director owned 5,000 shares of the company's stock, valued at $124,100. This represents a 77.68% decrease in their position. The disclosure for this sale can be found here. Insiders purchased 2,496 shares of company stock worth $61,780 in the last three months. 8.33% of the stock is currently owned by corporate insiders.

Institutional Trading of General American Investors

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Janney Montgomery Scott LLC grew its stake in shares of General American Investors by 2.9% during the 1st quarter. Janney Montgomery Scott LLC now owns 10,629 shares of the investment management company's stock valued at $535,000 after buying an additional 301 shares during the period. First Manhattan CO. LLC. raised its stake in shares of 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 valued at $285,000 after purchasing an additional 434 shares in the last quarter. CWM LLC raised its stake in shares of General American Investors by 119.8% in the 1st quarter. CWM LLC now owns 1,321 shares of the investment management company's stock valued at $67,000 after purchasing an additional 720 shares in the last quarter. Commonwealth Equity Services LLC raised its stake in shares of General American Investors by 4.1% in the 4th quarter. Commonwealth Equity Services LLC now owns 23,651 shares of the investment management company's stock valued at $1,206,000 after purchasing an additional 931 shares in the last quarter. Finally, Mraz Amerine & Associates Inc. raised its stake in General American Investors by 4.4% during the second quarter. Mraz Amerine & Associates Inc. now owns 23,679 shares of the investment management company's stock worth $1,327,000 after acquiring an additional 1,000 shares during the period. 36.85% of the stock is owned by hedge funds and other institutional investors.

About General American Investors

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.