Cornerstone Advisors LLC Sells 49,181 Shares of General American Investors, Inc. $GAM

Cornerstone Advisors LLC cut its holdings in General American Investors, Inc. (NYSE:GAM) by 51.1% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,973 shares of the investment management company’s stock after selling 49,181 shares during the quarter. Cornerstone Advisors LLC owned about 0.20% of General American Investors worth $2,922,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Allspring Global Investments Holdings LLC lifted its stake in shares of General American Investors by 8.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,812 shares of the investment management company’s stock valued at $24,748,000 after purchasing an additional 30,217 shares during the last quarter. Royal Bank of Canada lifted its position in shares of General American Investors by 38.3% in the first quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company’s stock worth $9,871,000 after buying an additional 54,223 shares during the last quarter. Advisors Asset Management Inc. boosted its stake in shares of General American Investors by 20.7% during the 3rd quarter. Advisors Asset Management Inc. now owns 97,440 shares of the investment management company’s stock worth $6,062,000 after acquiring an additional 16,734 shares in the last quarter. Bank of America Corp DE increased its holdings in shares of General American Investors by 34.2% during the 2nd quarter. Bank of America Corp DE now owns 41,648 shares of the investment management company’s stock valued at $2,334,000 after acquiring an additional 10,607 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its holdings in shares of General American Investors by 8.9% during the 2nd quarter. Envestnet Asset Management Inc. now owns 34,381 shares of the investment management company’s stock valued at $1,927,000 after acquiring an additional 2,810 shares during the last quarter. Institutional investors and hedge funds own 36.85% of the company’s stock.

Insider Buying and Selling at General American Investors

In other General American Investors news, insider Anang K. Majmudar acquired 1,095 shares of the company’s stock in a transaction dated Wednesday, February 4th. The shares were acquired at an average cost of $25.00 per share, for a total transaction of $27,375.00. Following the completion of the purchase, the insider owned 10,500 shares of the company’s stock, valued at approximately $262,500. This trade represents a 11.64% increase in their position. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, VP Eugene S. Stark acquired 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The shares were acquired at an average cost of $24.98 per share, with a total value of $99,920.00. Following the transaction, the vice president directly owned 24,000 shares in the company, valued at $599,520. The trade was a 20.00% increase in their position. The SEC filing for this purchase provides additional information. Over the last ninety days, insiders have purchased 6,895 shares of company stock valued at $172,293. 8.33% of the stock is owned by insiders.

General American Investors Stock Performance

GAM opened at $61.38 on Thursday. The business has a 50 day moving average price of $60.02 and a 200 day moving average price of $60.52. General American Investors, Inc. has a twelve month low of $41.80 and a twelve month high of $64.40.

About General American Investors

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.