General American Investors (NYSE:GAM) Sees Strong Trading Volume – Still a Buy?

General American Investors Company, Inc. (NYSE:GAM) saw unusually-high trading volume on Wednesday . Approximately 10,439 shares changed hands during trading, a decline of 40% from the previous session’s volume of 17,403 shares.The stock last traded at $53.12 and had previously closed at $53.25.

General American Investors Stock Performance

The firm has a fifty day moving average price of $51.52 and a two-hundred day moving average price of $52.07.

General American Investors Announces Dividend

The firm also recently declared an annual dividend, which was paid on Friday, December 27th. Stockholders of record on Monday, November 18th were paid a dividend of $0.45 per share. This represents a dividend yield of 0.8%. The ex-dividend date was Monday, November 18th.

Insiders Place Their Bets

In other news, CEO Jeffrey W. Priest purchased 6,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The stock was bought at an average cost of $25.00 per share, with a total value of $150,000.00. Following the completion of the purchase, the chief executive officer now owns 15,392 shares in the company, valued at approximately $384,800. This represents a 63.88 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. In the last quarter, insiders acquired 7,250 shares of company stock worth $192,031. Corporate insiders own 8.30% of the company’s stock.

Institutional Trading of General American Investors

A number of large investors have recently made changes to their positions in GAM. Pathstone Holdings LLC increased its position in General American Investors by 31.9% during the third quarter. Pathstone Holdings LLC now owns 330,584 shares of the investment management company’s stock valued at $17,731,000 after acquiring an additional 79,975 shares during the last quarter. Advisors Asset Management Inc. bought a new position in General American Investors during the 3rd quarter valued at about $1,490,000. Park Avenue Securities LLC raised its position in General American Investors by 19.2% in the 4th quarter. Park Avenue Securities LLC now owns 29,724 shares of the investment management company’s stock worth $1,516,000 after purchasing an additional 4,782 shares during the period. Capstone Investment Advisors LLC bought a new stake in General American Investors in the third quarter worth about $1,769,000. Finally, Farther Finance Advisors LLC purchased a new position in shares of General American Investors during the third quarter valued at approximately $59,000. 36.85% of the stock is currently owned by institutional investors.

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.