General American Investors (NYSE:GAM) Reaches New 1-Year High at $49.77

General American Investors Company, Inc. (NYSE:GAM)’s share price reached a new 52-week high on Thursday . The company traded as high as $49.77 and last traded at $49.76, with a volume of 3809 shares traded. The stock had previously closed at $49.51.

General American Investors Stock Performance

The company has a 50 day moving average of $47.93 and a two-hundred day moving average of $45.54.

Insiders Place Their Bets

In other news, Director Arthur G. Altschul, Jr. sold 6,868 shares of the company’s stock in a transaction dated Monday, May 20th. The shares were sold at an average price of $24.66, for a total transaction of $169,364.88. Following the transaction, the director now owns 42,492 shares in the company, valued at $1,047,852.72. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, CEO Jeffrey W. Priest acquired 4,000 shares of the business’s stock in a transaction dated Wednesday, April 3rd. The shares were acquired at an average cost of $25.09 per share, with a total value of $100,360.00. Following the completion of the acquisition, the chief executive officer now owns 7,200 shares of the company’s stock, valued at $180,648. The acquisition was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Arthur G. Altschul, Jr. sold 6,868 shares of the firm’s stock in a transaction dated Monday, May 20th. The stock was sold at an average price of $24.66, for a total value of $169,364.88. Following the completion of the transaction, the director now owns 42,492 shares of the company’s stock, valued at $1,047,852.72. The disclosure for this sale can be found here. Over the last 90 days, insiders acquired 11,227 shares of company stock valued at $285,156. 8.30% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On General American Investors

Hedge funds and other institutional investors have recently bought and sold shares of the business. Cetera Advisors LLC acquired a new stake in shares of General American Investors in the first quarter worth $343,000. Cornerstone Advisors LLC grew its position in General American Investors by 6.4% during the 1st quarter. Cornerstone Advisors LLC now owns 354,108 shares of the investment management company’s stock worth $16,470,000 after purchasing an additional 21,190 shares during the period. BNP Paribas acquired a new stake in General American Investors during the 1st quarter worth about $35,000. Matisse Capital purchased a new position in shares of General American Investors during the 1st quarter valued at about $247,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in shares of General American Investors by 5.5% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 730,417 shares of the investment management company’s stock valued at $33,972,000 after buying an additional 37,871 shares during the period. Institutional investors and hedge funds own 36.85% of the company’s stock.

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.