Eugene Stark buys $48,842 worth of General American preferred stock By Investing.com
Eugene S. Stark, Vice President of Administration, Chief Compliance Officer, and Chief Financial Officer (NASDAQ:) at General American Investors Company, Inc. (NYSE:GAM), made a significant purchase of 5.95% of the company’s preferred stock. On June 14, 2024, Stark acquired a total of $48,842 worth of shares at prices ranging from $24.7 to $24.76 per share.
The transaction, which was officially filed on June 17, reflects Stark’s confidence in the investment management company, as he increases his holdings directly in the preferred stock. Stark’s purchases included 1,826 shares at $24.76 and another 147 shares at $24.7. Following this transaction, Stark’s direct ownership of the 5.95% preferred stock increased to 12,000 shares.
It’s worth noting that Stark owns these shares jointly with his spouse, as shown in footnotes in the SEC filing. Additionally, Stark has indirect ownership of the IRA account and his spouse’s IRA account, although he disclaims a beneficial interest in the shares held by the Issuer’s Thrift Plan Trust.
Investors often keep a close eye on insider trading, as they can provide insight into management’s views on the company’s future performance. Stark’s role within General American Investors Company, Inc., combined with this latest acquisition, may be of particular interest to current and potential shareholders.
InvestingPro Insights
Eugene S. Stark’s recent insider purchases at General American Investors Company, Inc. (NYSE:GAM) shows good sentiment from the main manager. The move is consistent with several metrics and trends observed by GAM on InvestingPro. With a market capitalization of $1.16 billion and a very low P/E ratio of 4.44, the company presents itself as a relatively large relative to its earnings. This is especially true in a market where investors are always looking for opportunities that can provide significant returns.
General American Investors Company, Inc. it also showed impressive revenue growth, with an increase of 33.5% in the last twelve months from Q1 2024, and a quarterly revenue growth of 10.24% in Q1 2024. This strong growth may be an indicator of continued financial health and appeal to investors looking for shares focus on growth.
An InvestingPro tip worth noting is that GAM has maintained dividend payments for 52 consecutive years, an indication of the company’s commitment to returning value to shareholders. The dividend yield stands at a healthy 5.4%, making it an attractive option for income-oriented investors. Additionally, the stock is trading near its 52-week high, indicating positive market acceptance of the company’s performance.
For those interested in finding in-depth information and additional InvestingPro tips on General American Investors Company, Inc., visit There are 5 additional tips currently available on InvestingPro, which provide various insights into the company’s financial health and stock performance. To access these details, consider using a coupon code PRONEWS24 for an additional 10% discount on Pro and Pro+ annual or bi-annual subscriptions.
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