General American Invts (NYSE:GAM) Stock, Quote.Headers.trade-ideas

General American Invts

Gen American Invts Co

General American Investors Co Inc is a closed-end, diversified management investment company. The primary investment objective of the company is long-term capital appreciation through investment in companies with above-average growth potential. It focuses on equity securities with growth potential at reasonable valuations.

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Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.

Insiders Buying General American Investors Company And 2 Other Stocks

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Although U.S. stocks closed mixed on Tuesday, there were a few notable insider trades.

Insiders Buying Tilly&#39;s And 2 Other Stocks

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Things just got interesting at a 97-year-old mutual fund. General American Investors is a closed-end fund that opened in 1927 during the boom years of the 1920s. When this fund started investing capital for its shareholders, bathtub gin flowed, and the flappers did the can-can. General American Investors (Ticker: GAM) is a closed-end fund, so thanks to the fickleness of retail investors and the psychological soup that is the stock market, the fund can and does trade at a discount to the value of the stocks, bonds, and cash it owns.
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Source: Benzinga Pro Currently, the fund trades for 14.5% less than its net asset value, which is a slight improvement over the 10-year average. The fund is a growth stock fund and owns many of the big growth stories of the day, including Amazon (Ticker: AMZN), Apple (Ticker: AAPL), and Microsoft (Ticker: MSFT). Despite that, its long-term performance has lagged the S&amp;P 500 (Ticker: SPY). General American is a permanent capital vehicle as a closed-end fund, and no funds can be withdrawn. Investors can sell shares on the New York Stock Exchange like any other security. For 97 years, the fund&#8217;s management company has collected fees regardless of performance. Activists such as Phillip Goldstein of Bulldog Partners have tried to force the fund to take steps to narrow the discount in the past but have never succeeded. That may be about to change. Earlier this month, Boaz Weinstein of Saba Capital filed a 13D announcing he owned 5.3% of the fund and intended to talk with management about narrowing the discount. He particularly mentioned converting General American to an open-end fund, thereby forcing the shares to trade at NAV, or liquidating the fund and returning the cash to shareholders. While other activists might not have succeeded, Weinstein is a different matter. He has been battling the major mutual fund groups over closed-end fund discounts for years now and winning. Boaz Weinstein is used to winning. He was a chess master at the age of 16. Weinstein&#8217;s Wall Street career began at Deutsche Bank, where he quickly rose through the ranks. By age 27, he had become one of the youngest Managing Directors in the bank&#8217;s history. Thanks to a strategy of buying undervalued credit default swaps and selling private ones, Saba Capital had a monster year in 2020 and was named hedge fund manager of the year by Risk.Net. Closed-end fund (CEF) activism has become a significant strategy for investors like Boaz Weinstein and others who seek to profit from persistent discounts to Net Asset Value (NAV). These campaigns follow a structured approach to force corporate actions that close the gap between market price and NAV. Weinstein has become the 800-pound gorilla of the closed-end fund market, forcing several funds to convert to open-end or exchange-traded funds. Others have tried to appease him by conducting tender offers or buybacks that force the trading price of the shares closer to their net asset value. Several have made substantial increases in the dividend to attract buyers and narrow the discount. At the heart of Saba Capital&#8217;s dominance in closed-end fund activism lies its substantial capital base and sophisticated infrastructure. The firm maintains sufficient scale to pursue multiple campaigns simultaneously, typically taking ownership stakes of 5-15% in target funds. This capacity for multiple, meaningful positions sets Saba apart from smaller activists who might be constrained to fewer opportunities. Saba&#8217;s established market presence creates a self-reinforcing advantage. Fund boards recognize the firm as a serious and professional actor, while proxy advisors understand their approach and methodology. These relationships, built over years of consistent engagement, facilitate more productive discussions and often lead to faster resolutions. The firm&#8217;s network extends beyond direct stakeholders to include strong relationships with other activists, institutional shareholders, and industry service providers. This network provides valuable intelligence, deal flow, and potential partners for larger campaigns. When Saba identifies an opportunity, it can quickly assess the landscape and identify potential allies or obstacles. This gives investors an attractive opportunity at the current price. You will own some of the best stocks on the market today. You will pay about $0.85 on the dollar for what they are trading today. As of this writing, you will pay $53 for a little over $62 worth of stocks and cash. If nothing happens, you will likely make a little less than the index rate of return. If Weinstein is successful, you will make a little less than the average rate of return plus about a 17% gain from the discount elimination. Given Weinstein&#8217;s success rate in closed-end fund activism, it is a smart bet.
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Although U.S. stocks closed mixed on Wednesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>AMREP </h3>
<ul>
<li>The Trade: AMREP Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/axr#NYSE">AXR</a>) 10% owner Rainey E. Lancaster <a href="https://www.benzinga.com/quote/AXR/analyst-ratings"> acquired a total of 3,000 shares </a> an average price of $22.20. To acquire these shares, it cost around $66,600.</li>
<li>What&rsquo;s Happening: On March 8, AMREP reported earnings of 2 cents per share for its 2024 fiscal third quarter, versus year-ago earnings of $3.12 per share.</li>
<li>What AMREP Does: Amrep Corp through its subsidiaries is engaged in the Real estate business.</li>
</ul>
<h3>Ares Commercial Real Estate </h3>
<ul>
<li>The Trade: Ares Commercial Real Estate Corporation (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/acre#NYSE">ACRE</a>) CEO Bryan Patrick Donohoe acquired a total of 3,509 shares at an average price of $14.33. To acquire these shares, it cost around $50,266.</li>
<li>What&rsquo;s Happening: On March 4, B of A Securities analyst Eric Dray downgraded Ares Commercial Real Estate from Buy to Underperform and lowered the price target from $11 to $7.</li>
<li>What Ares Commercial Real Estate Does: Ares Commercial Real Estate Corp is a specialty finance company and a Real Estate Investment Trust providing commercial real estate loans and related investments.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>General American Investors </h3>
<ul>
<li>The Trade: General American Investors Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gam#NYSE">GAM</a>) President and CEO Jeffrey W Priest <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 4,000 shares </a> at an average price of $25.09. To acquire these shares, it cost around $100,350.</li>
<li>What&rsquo;s Happening: The company&rsquo;s stock gained around 8% year-to-date.</li>
<li>What General American Investors Does: General American Investors Company Inc is a closed-end, diversified management investment company.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/04/38104597/greenbrier-likely-to-report-lower-q2-earnings-here-are-the-recent-forecast-changes-from-wall-street"> Greenbrier Likely To Report Lower Q2 Earnings; Here Are The Recent Forecast Changes From Wall Street&#39;s Most Accurate Analysts </a>

This continues a repurchase program which began in March 1995. Through December 31, 2023, the Company has repurchased 32.5 million shares of common stock for a cost of $1 billion at an average discount of 14.1%.

Buybacks

General American Investors Board Authorized Repurchase Of Additional 1M Outstanding Shares Of Common Stock When Shares Are Trading At Discount From Underlying Net Asset Value By At Least 8%

Although U.S. stocks closed mixed on Tuesday, there were a few notable insider trades.
When insiders purchase shares, it indicates their confidence in the company&#39;s prospects or that they view the stock as a bargain. Either way, this signals an opportunity to go long on the stock. Insider purchases should not be taken as the only indicator for making an investment or trading decision. At best, it can lend conviction to a buying decision.
Below is a look at a few recent notable insider purchases. For more, check out <a href="https://www.benzinga.com/sec/insider-trades/"> Benzinga&#39;s insider transactions </a> platform.
<h3>General American Investors </h3>
<ul>
<li>The Trade: General American Investors Company, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/gam#NYSE">GAM</a>) President and CEO Jeffrey W Priest <a href="https://www.benzinga.com/quote/GAM/analyst-ratings"> acquired a total of 1,000 shares </a> an average price of $42.19. To acquire these shares, it cost around $42,190.</li>
<li>What&rsquo;s Happening: The company&rsquo;s stock gained around 2% over the past six months.</li>
<li>What General American Investors Does: General American Investors Company Inc is a closed-end, diversified management investment company.</li>
</ul>
<h3>Tilly&#39;s </h3>
<ul>
<li>The Trade: Tilly&#39;s, Inc. (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/tlys#NYSE">TLYS</a>) 10% owner Pleasant Lake Partners LLC acquired a total of 130,302 shares at an average price of $7.18. To acquire these shares, it cost around $936,186.</li>
<li>What&rsquo;s Happening: Tilly&#39;s reported a 7.4% decline in sales to $139.7 million for the 2023 nine-week holiday period ended Dec. 30, 2023.</li>
<li>What Tilly&#39;s Does: Tilly&#39;s Inc works as a specialty retailer of casual apparel, footwear, and accessories for young men, young women, boys, and girls.</li>
</ul>
Don&rsquo;t forget to check out our <a href="https://www.benzinga.com/premarket/"> premarket coverage here </a> 
<h3>Champions Oncology </h3>
<ul>
<li>The Trade: Champions Oncology, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/csbr#NASDAQ">CSBR</a>) Director Daniel Mendelson <a href="https://www.benzinga.com/sec/insider-trades/"> bought a total of 1,000 shares </a> at an average price of $6.15. To acquire these shares, it cost around $6,150.</li>
<li>What&rsquo;s Happening: Champions Oncology recently posted a loss for the second quarter.</li>
<li>What Champions Oncology Does: Champions Oncology Inc is a us-based company which is engaged in the development and sale of advanced technology solutions and products to personalize the development and use of oncology drugs.</li>
</ul>
&nbsp;
Check This Out: <a href="https://www.benzinga.com/news/earnings/24/01/36571004/markets-turn-more-bullish-ahead-of-inflation-data-fear-greed-index-remains-in-greed-zone"> Markets Turn More Bullish Ahead Of Inflation Data; Fear &amp; Greed Index Remains In &#39;Greed&#39; Zone </a>
&nbsp;

Insiders Buying Tilly's And 2 Other Stocks

The Board of Directors of General American Investors Company, Inc., a closed-end investment company whose common and preferred shares are listed on the New York Stock Exchange (NYSE symbols - GAM and GAM Pr B, respectively), renewed authorization for the repurchase of 604,687 outstanding shares of&nbsp;5.95%&nbsp;Cumulative Preferred Stock, Series B when the shares are trading at a market price below the liquidation preference of&nbsp;$25&nbsp;per share. This is a renewal of the repurchase program originally authorized by the Board of Directors on December 10, 2008 for 1 million shares of Preferred Stock. To date, a total of 395,313 shares of Preferred Stock have been repurchased and retired. This program is separate from and in addition to the common stock repurchase program.
The Board of Directors also wishes to announce that the annual shareholder meeting will be held on April 20, 2022 for shareholders of record on February 11, 2022. Due to public health concerns pertaining to the coronavirus pandemic and/or related local, state and federal government regulations and recommendations, the Board of Directors also wishes to announce that in the event that the Annual Meeting cannot or should not be held at The Century Association, it would be appropriate to convene the Annual Meeting on such date and time at another location in the City of New York and virtually, by means of remote communication, or, in the event that the Annual Meeting cannot or should not be convened on such date and time in the City of New York, then solely by means of remote communication.
General American Investors was founded in 1927, has been publicly traded since its inception, and has been listed on the NYSE since 1930. The objective of the Company is long-term capital appreciation through investment in companies with above average growth potential. As of November 30, 2021, the Company had total net assets of approximately&nbsp;$1.2 billion&nbsp;applicable to its 23.8 million shares of common stock outstanding. The aggregate liquidation value of the Company&#39;s 7.6 million shares of&nbsp;5.95%&nbsp;Cumulative Preferred Stock, Series B is&nbsp;$190.1 million.

General American Investors Company Authorizes Repurchase Of 604,687 Shares Of Preferred Stock

On April 29, 2021, Gen American Invts Co (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GAM#NYSE">GAM</a>) declared a dividend payable on June 24, 2021 to its shareholders. Gen American Invts Co also announced that shareholders on the company's books on or before June 7, 2021 are entitled to the dividend. The stock will then go ex-dividend 1 business day(s) before the record date. Gen American Invts Co has an ex-dividend date set for for June 4, 2021. The company's current dividend payout is $0.37, which equates to a dividend yield of 3.51% at current price levels. 
<h2>The Significance Of Ex-Dividend Dates</h2>
An ex-dividend date is when a company's shares stop trading with its current dividend payout in preparation for the company to announce a new one. Usually, a company's ex-dividend date falls one business day before its record date. Investors should keep this in mind when purchasing stocks because buying them on or after ex-dividend dates does not qualify them to receive the declared payment. Newly declared dividends go to shareholders who have owned that stock before the ex-dividend date. Most ex-dividend dates operate on a quarterly basis. 
<h2>Understanding Gen American Invts Co's Dividend History</h2>
Over the past year, Gen American Invts Co has seen its dividend payouts and yields descend downward overall. Last year on November 15, 2019 the company's payout sat at $2.45, which has since decreased by $2.08. Gen American Invts Co's dividend yield last year was 6.67%, which has since declined by 3.16%. 
Companies use dividend yields in different strategic ways. Some companies may opt to not give yields altogether to reinvest in themselves. Other companies may opt to increase or decrease their yield amounts to control how their shares circulate throughout the stock market. 
To read more about Gen American Invts Co <a href="https://www.benzinga.com/stock/gam/">click here</a>.

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Analyzing Gen American Invts Co's Ex-Dividend Date

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