General American Investors (NYSE:GAM) Hits New 52-Week High - Still a Buy?

General American Investors, Inc. (NYSE:GAM - Get Free Report) shares reached a new 52-week high on Tuesday . The stock traded as high as $56.50 and last traded at $56.10, with a volume of 1359 shares traded. The stock had previously closed at $56.04.

General American Investors Stock Up 0.7%

The company has a fifty day moving average of $53.65 and a two-hundred day moving average of $51.84.

Insider Buying and Selling

In related news, Director Arthur G. Altschul, Jr. sold 17,400 shares of the business's stock in a transaction that occurred on Thursday, May 8th. The stock was sold at an average price of $24.82, for a total value of $431,868.00. Following the completion of the sale, the director directly owned 5,000 shares in the company, valued at approximately $124,100. The trade was a 77.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director Trust Fbo Altschul Arthur G, Jr. sold 2,000 shares of the business's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $24.62, for a total value of $49,240.00. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 2,496 shares of company stock worth $61,780. 8.33% of the stock is currently owned by insiders.

Institutional Investors Weigh In On General American Investors

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jones Financial Companies Lllp lifted its holdings in General American Investors by 79,052.6% in the 1st quarter. Jones Financial Companies Lllp now owns 45,117 shares of the investment management company's stock worth $2,106,000 after purchasing an additional 45,060 shares during the last quarter. Advisors Asset Management Inc. lifted its holdings in shares of General American Investors by 17.2% during the first quarter. Advisors Asset Management Inc. now owns 78,030 shares of the investment management company's stock worth $3,930,000 after buying an additional 11,427 shares during the last quarter. Royal Bank of Canada lifted its holdings in shares of 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 last quarter. Sit Investment Associates Inc. lifted its holdings in shares of General American Investors by 3.8% during the first quarter. Sit Investment Associates Inc. now owns 248,197 shares of the investment management company's stock worth $12,502,000 after buying an additional 9,147 shares during the last quarter. Finally, Wolverine Asset Management LLC acquired a new stake in General American Investors in the 1st quarter worth $338,000. 36.85% of the stock is currently owned by institutional investors and hedge funds.

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.