General American Investors, Inc. (NYSE:GAM - Get Free Report) shares passed above its fifty day moving average during trading on Wednesday . The stock has a fifty day moving average of $60.53 and traded as high as $63.24. General American Investors shares last traded at $62.82, with a volume of 28,035 shares changing hands.
General American Investors Price Performance
The stock's fifty day moving average price is $60.53 and its two-hundred day moving average price is $60.61.
Insiders Place Their Bets
In other General American Investors news, insider Anang K. Majmudar bought 1,095 shares of the business's stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average price of $25.00 per share, with a total value of $27,375.00. Following the transaction, the insider owned 10,500 shares of the company's stock, valued at approximately $262,500. The trade was a 11.64% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, VP Eugene S. Stark bought 6,151 shares of the business's stock in a transaction dated Wednesday, April 8th. The shares were acquired at an average cost of $24.86 per share, for a total transaction of $152,913.86. Following the transaction, the vice president directly owned 34,000 shares in the company, valued at approximately $845,240. This represents a 22.09% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last 90 days, insiders acquired 11,957 shares of company stock worth $297,913. 7.93% of the stock is owned by insiders.
Institutional Trading of General American Investors
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Saba Capital Management L.P. raised its holdings in General American Investors by 2.2% during the fourth quarter. Saba Capital Management L.P. now owns 2,085,885 shares of the investment management company's stock worth $122,504,000 after purchasing an additional 44,324 shares in the last quarter. Lazard Asset Management LLC raised its stake in General American Investors by 6.0% during the 4th quarter. Lazard Asset Management LLC now owns 1,397,623 shares of the investment management company's stock worth $82,082,000 after acquiring an additional 78,547 shares in the last quarter. Blue Bell Private Wealth Management LLC raised its stake in General American Investors by 10.2% during the 4th quarter. Blue Bell Private Wealth Management LLC now owns 810,682 shares of the investment management company's stock worth $47,611,000 after acquiring an additional 75,259 shares in the last quarter. Northwestern Mutual Wealth Management Co. raised its stake in General American Investors by 98,734.0% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 735,325 shares of the investment management company's stock worth $43,186,000 after acquiring an additional 734,581 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its stake 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 in the last quarter. Institutional investors and hedge funds own 36.85% of the company's stock.
General American Investors Company Profile
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Get Free Report)
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.
See Also
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