General American Investors (NYSE:GAM) Hits New 12-Month High - Still a Buy?

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 $55.52 and last traded at $55.27, with a volume of 12464 shares traded. The stock had previously closed at $55.07.

General American Investors Trading Up 0.8%

The firm's 50-day moving average is $53.07 and its 200 day moving average is $51.73.

Insider Buying and Selling

In other news, Director Trust Fbo Altschul Arthur G, Jr. sold 2,000 shares of the company's stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $24.62, for a total value of $49,240.00. The transaction was disclosed in a document filed with the SEC, which is available 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 sale, the director now directly owns 5,000 shares in the company, valued at approximately $124,100. This represents a 77.68% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have acquired 4,231 shares of company stock worth $104,721 and have sold 32,599 shares worth $808,839. 8.33% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On General American Investors

A number of institutional investors have recently modified their holdings of GAM. Raymond James Financial Inc. bought a new stake in shares of General American Investors in the 4th quarter valued at $797,000. Blue Bell Private Wealth Management LLC boosted its stake in shares of General American Investors by 0.6% in the 4th quarter. Blue Bell Private Wealth Management LLC now owns 718,133 shares of the investment management company's stock valued at $36,632,000 after purchasing an additional 4,256 shares during the last quarter. PNC Financial Services Group Inc. boosted its stake in shares of 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 valued at $127,000 after purchasing an additional 197 shares during the last quarter. Commonwealth Equity Services LLC boosted 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 during the last quarter. Finally, Advisors Asset Management Inc. boosted its stake in shares of General American Investors by 139.7% in the 4th quarter. Advisors Asset Management Inc. now owns 66,603 shares of the investment management company's stock valued at $3,397,000 after purchasing an additional 38,814 shares during the last quarter. 36.85% of the stock is owned by 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.