General American Investors, Inc. (GAM) Position Raised by First Manhattan Co.
First Manhattan Co. boosted its stake in shares of General American Investors, Inc. (NYSE:GAM) by 14.8% during the second quarter, Holdings Channel reports. The firm owned 18,812 shares of the investment management company’s stock after buying an additional 2,420 shares during the period. First Manhattan Co.’s holdings in General American Investors were worth $646,000 as of its most recent SEC filing.
Separately, Janney Montgomery Scott LLC purchased a new stake in shares of General American Investors during the second quarter valued at approximately $200,000. 26.85% of the stock is currently owned by institutional investors and hedge funds.
Shares of General American Investors, Inc. (NYSE:GAM) opened at 35.0499 on Tuesday. The company’s 50-day moving average is $34.62 and its 200 day moving average is $33.76. General American Investors, Inc. has a 12 month low of $28.72 and a 12 month high of $35.40. The stock has a market capitalization of $947.64 million, a P/E ratio of 6.6851 and a beta of 1.19.
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In other news, CEO Jeffrey W. Priest bought 1,500 shares of General American Investors stock in a transaction on Tuesday, May 16th. The stock was acquired at an average cost of $34.18 per share, for a total transaction of $51,270.00. Following the completion of the acquisition, the chief executive officer now owns 70,139 shares of the company’s stock, valued at approximately $2,397,351.02. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 6.68% of the company’s stock.
About General American Investors
Want to see what other hedge funds are holding GAM? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for General American Investors, Inc. (NYSE:GAM).
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