Insider Buying: General American Investors (NYSE:GAM) VP Acquires 5,000 Shares

Key Points

• Insider purchase: General American Investors VP Eugene Stark bought 5,000 shares at an average price of $22.75, spending $113,750 and increasing his direct ownership to 39,000 shares.
• Stock performance: GAM shares fell $0.39 to $64.41, while trading volume remained below average. The stock has ranged from $56.24 to $68.57 over the past year.
• Institutional ownership: Hedge funds and other institutional investors own 36.85% of the company, with several firms recently adding to or initiating positions.

General American Investors, Inc. (NYSE:GAM - Get Free Report) VP Eugene Stark purchased 5,000 shares of the business's stock in a transaction that occurred on Wednesday, September 23rd. The shares were purchased at an average cost of $22.75 per share, with a total value of $113,750.00. Following the completion of the acquisition, the vice president directly owned 39,000 shares of the company's stock, valued at $887,250. This represents a 14.71% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

General American Investors Stock Performance

Shares of NYSE:GAM traded down $0.39 on Thursday, reaching $64.41. 5,310 shares of the company were exchanged, compared to its average volume of 27,226. The company has a 50-day moving average of $66.01 and a 200-day moving average of $63.85. General American Investors, Inc. has a 1-year low of $56.24 and a 1-year high of $68.57.

Hedge Funds Weigh In On General American Investors

Several hedge funds have recently bought and sold shares of the company. PNC Financial Services Group Inc. raised its position in General American Investors by 10.9% during the fourth quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company's stock worth $163,000 after acquiring an additional 273 shares during the last quarter. Northwestern Mutual Wealth Management Co. purchased a new position in General American Investors in the second quarter valued at approximately $169,000. Harbour Investments Inc. raised its stake in shares of General American Investors by 10.9% in the 4th quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company's stock valued at $177,000 after acquiring an additional 297 shares during the period. Quad Cities Investment Group LLC acquired a new position in shares of General American Investors during the second quarter worth about $207,000. Finally, Prospera Financial Services Inc boosted its holdings in General American Investors by 10.9% in the 4th quarter. Prospera Financial Services Inc now owns 4,013 shares of the investment management company's stock worth $236,000 after acquiring an additional 395 shares during the period. 36.85% of the stock is owned by hedge funds and other institutional investors.

General American Investors Company Profile

General American Investors Company, Inc is a publicly traded closed-end investment company that seeks long-term capital appreciation through investments in a diversified portfolio of securities. The company's shares trade on the New York Stock Exchange under the symbol GAM.

Founded in 1927, General American Investors is one of the oldest closed-end investment companies in the United States. Its portfolio has historically included common stocks, convertible securities and other investments, with an emphasis on identifying companies that may offer attractive long-term growth potential.

The company invests primarily in publicly traded businesses across a range of industries and may hold investments in both U.S.

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