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

Cornerstone Advisors LLC trimmed its position in shares of General American Investors, Inc. (NYSE:GAM) by 51.1% during the 3rd quarter, HoldingsChannel reports. The fund owned 46,973 shares of the investment management company’s stock after selling 49,181 shares during the quarter. Cornerstone Advisors LLC’s holdings in General American Investors were worth $2,922,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC grew its holdings in shares of General American Investors by 8.2% during the 3rd quarter. Allspring Global Investments Holdings LLC now owns 397,812 shares of the investment management company’s stock worth $24,748,000 after purchasing an additional 30,217 shares in the last quarter. Royal Bank of Canada lifted its position in 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 purchasing an additional 54,223 shares during the period. Advisors Asset Management Inc. boosted its stake in General American Investors by 20.7% during the third quarter. Advisors Asset Management Inc. now owns 97,440 shares of the investment management company’s stock worth $6,062,000 after buying an additional 16,734 shares in the last quarter. Bank of America Corp DE increased its holdings in General American Investors by 34.2% in 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 buying an additional 10,607 shares during the period. Finally, Envestnet Asset Management Inc. raised its stake in shares of General American Investors by 8.9% in 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 buying an additional 2,810 shares in the last quarter. Institutional investors and hedge funds own 36.85% of the company’s stock.

General American Investors Stock Down 0.1%

NYSE:GAM opened at $61.38 on Thursday. The company has a 50-day moving average of $60.02 and a 200-day moving average of $60.52. General American Investors, Inc. has a 52 week low of $41.80 and a 52 week high of $64.40.

Insider Transactions at General American Investors

In related news, VP Eugene S. Stark bought 4,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 13th. The stock was acquired at an average price of $24.98 per share, for a total transaction of $99,920.00. Following the transaction, the vice president directly owned 24,000 shares of the company’s stock, valued at $599,520. This represents a 20.00% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Anang K. Majmudar purchased 1,700 shares of the firm’s stock in a transaction that occurred on Tuesday, February 3rd. The stock was bought at an average cost of $25.00 per share, for a total transaction of $42,500.00. Following the purchase, the insider owned 9,405 shares in the company, valued at $235,125. This represents a 22.06% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last 90 days, insiders have acquired 6,895 shares of company stock valued at $172,293. Corporate insiders own 8.33% of the company’s stock.

General American Investors Company Profile

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.