Short Interest in General American Investors, Inc. (NYSE:GAM) Grows By 151.9%
by Mitch Edgeman · The Markets DailyGeneral American Investors, Inc. (NYSE:GAM – Get Free Report) was the recipient of a large growth in short interest in January. As of January 30th, there was short interest totaling 18,982 shares, a growth of 151.9% from the January 15th total of 7,536 shares. Based on an average daily trading volume, of 42,656 shares, the days-to-cover ratio is currently 0.4 days. Approximately 0.1% of the company’s stock are short sold. Approximately 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 42,656 shares, the days-to-cover ratio is currently 0.4 days.
Insider Transactions at General American Investors
In related news, insider Anang K. Majmudar acquired 1,700 shares of the company’s stock in a transaction dated Tuesday, February 3rd. The shares were bought at an average price of $25.00 per share, for a total transaction of $42,500.00. Following the purchase, the insider directly owned 9,405 shares in the company, valued at approximately $235,125. This trade represents a 22.06% increase in their position. 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 acquired 4,000 shares of the business’s stock in a transaction dated Tuesday, January 13th. The stock was bought at an average cost of $24.98 per share, with a total value of $99,920.00. Following the acquisition, the vice president owned 24,000 shares in the company, valued at $599,520. The trade was a 20.00% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last 90 days, insiders have bought 6,895 shares of company stock valued at $172,293. Company insiders own 8.33% of the company’s stock.
Hedge Funds Weigh In On General American Investors
Large investors have recently modified their holdings of the stock. PNC Financial Services Group Inc. boosted its holdings in shares of General American Investors by 10.9% during the 4th quarter. PNC Financial Services Group Inc. now owns 2,775 shares of the investment management company’s stock worth $163,000 after buying an additional 273 shares during the period. Harbour Investments Inc. lifted its position in General American Investors by 10.9% during the fourth quarter. Harbour Investments Inc. now owns 3,018 shares of the investment management company’s stock worth $177,000 after acquiring an additional 297 shares during the last quarter. Prospera Financial Services Inc bought a new stake in shares of General American Investors during the second quarter worth approximately $203,000. Bank of Montreal Can bought a new stake in shares of General American Investors during the second quarter worth approximately $203,000. Finally, Osaic Holdings Inc. grew its position in shares of General American Investors by 41.6% in the second quarter. Osaic Holdings Inc. now owns 3,755 shares of the investment management company’s stock valued at $210,000 after purchasing an additional 1,103 shares during the last quarter. 36.85% of the stock is owned by institutional investors.
General American Investors Stock Down 0.8%
Shares of GAM stock traded down $0.48 during trading on Thursday, reaching $61.09. 8,667 shares of the company’s stock were exchanged, compared to its average volume of 36,535. General American Investors has a twelve month low of $41.80 and a twelve month high of $64.40. The firm’s fifty day moving average price is $59.78 and its 200-day moving average price is $60.37.
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.