General American Investors (NYSE:GAM) Sets New 1-Year Low – Here’s Why

General American Investors Company, Inc. (NYSE:GAM)’s stock price hit a new 52-week low during trading on Monday . The stock traded as low as $41.80 and last traded at $44.50, with a volume of 5586 shares changing hands. The stock had previously closed at $46.97.

General American Investors Stock Down 0.6 %

The company’s fifty day simple moving average is $50.83 and its two-hundred day simple moving average is $51.88.

General American Investors Cuts Dividend

The firm also recently disclosed a — dividend, which was paid on Friday, March 7th. Investors of record on Monday, February 24th were paid a dividend of $0.25 per share. This represents a yield of 0.9%. The ex-dividend date was Monday, February 24th.

Insiders Place Their Bets

In other General American Investors news, CEO Jeffrey W. Priest bought 1,735 shares of the stock in a transaction that occurred on Tuesday, April 1st. The stock was acquired at an average cost of $24.75 per share, with a total value of $42,941.25. Following the purchase, the chief executive officer now owns 17,127 shares in the company, valued at $423,893.25. This trade represents a 11.27 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Eugene S. Stark bought 2,500 shares of the company’s stock in a transaction on Thursday, March 6th. The shares were bought at an average price of $25.00 per share, for a total transaction of $62,500.00. Following the completion of the acquisition, the vice president now directly owns 14,500 shares in the company, valued at approximately $362,500. This trade represents a 20.83 % increase in their position. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 4,885 shares of company stock worth $121,691. Corporate insiders own 8.33% of the company’s stock.

Institutional Investors Weigh In On General American Investors

Several large investors have recently made changes to their positions in GAM. Saba Capital Management L.P. boosted its stake in General American Investors by 42.6% in the 4th quarter. Saba Capital Management L.P. now owns 1,464,300 shares of the investment management company’s stock worth $74,694,000 after purchasing an additional 437,632 shares during the period. Sit Investment Associates Inc. grew its holdings in shares of General American Investors by 35.9% during the fourth quarter. Sit Investment Associates Inc. now owns 239,050 shares of the investment management company’s stock worth $12,194,000 after buying an additional 63,197 shares in the last quarter. Advisors Asset Management Inc. raised its position in 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 buying an additional 38,814 shares during the last quarter. Cohen & Steers Inc. lifted its stake in General American Investors by 19.8% in the 4th quarter. Cohen & Steers Inc. now owns 222,069 shares of the investment management company’s stock valued at $11,328,000 after acquiring an additional 36,746 shares in the last quarter. Finally, Concurrent Investment Advisors LLC acquired a new position in General American Investors during the 4th quarter worth approximately $1,564,000. Institutional investors 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.