King Luther Capital Management Corp Purchases New Stake in General American Investors, Inc. $GAM

King Luther Capital Management Corp purchased a new stake in shares of General American Investors, Inc. (NYSE:GAM) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 23,116 shares of the investment management company’s stock, valued at approximately $1,438,000. King Luther Capital Management Corp owned about 0.10% of General American Investors at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC raised its position in shares of General American Investors by 8.2% in the third 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 period. Royal Bank of Canada grew its stake in General American Investors by 38.3% in the 1st quarter. Royal Bank of Canada now owns 195,963 shares of the investment management company’s stock valued at $9,871,000 after buying an additional 54,223 shares during the last quarter. Advisors Asset Management Inc. grew its stake in General American Investors by 20.7% in the 3rd quarter. Advisors Asset Management Inc. now owns 97,440 shares of the investment management company’s stock valued at $6,062,000 after buying an additional 16,734 shares during the last quarter. Bank of America Corp DE raised 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 acquiring an additional 10,607 shares during the period. Finally, Envestnet Asset Management Inc. lifted its position in General American Investors by 8.9% during the second quarter. Envestnet Asset Management Inc. now owns 34,381 shares of the investment management company’s stock worth $1,927,000 after acquiring an additional 2,810 shares during the last quarter. 36.85% of the stock is owned by institutional investors.

Insider Activity at General American Investors

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

General American Investors Stock Performance

Shares of NYSE:GAM opened at $61.77 on Friday. General American Investors, Inc. has a 12-month low of $41.80 and a 12-month high of $64.40. The business has a 50 day moving average of $60.13 and a 200-day moving average of $60.56.

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.