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A company's own top management tend to have the best inside view into the business, so when company officers make major buys, investors are wise to take notice. Presumably the only reason an insider would take their hard-earned cash and use it to buy stock of their company in the open market, is that they expect to make money — maybe they find the stock very undervalued, or maybe they see exciting progress within the company, or maybe both. So in this series we look at the largest insider buys by the ''top brass'' over the trailing six month period, one of which was a total of $477.9K invested across 10 purchases by Jeffrey W. Priest, President at General American Investors Incorporated (NYSE:GAM).
Priest bets big on GAM:
Purchased
Insider
Title
Shares
Price/Share
Value
05/09/2012
Jeffrey W. Priest
President
2,500
$27.82
$69,549.90
05/21/2012
Jeffrey W. Priest
President
3,000
$26.61
$79,830.00
05/25/2012
Jeffrey W. Priest
President
688
$26.67
$18,347.93
05/31/2012
Jeffrey W. Priest
President
1,000
$26.77
$26,769.90
06/11/2012
Jeffrey W. Priest
President
1,000
$26.44
$26,440.00
06/12/2012
Jeffrey W. Priest
President
1,000
$26.53
$26,530.00
06/21/2012
Jeffrey W. Priest
President
2,500
$26.60
$66,500.00
06/22/2012
Jeffrey W. Priest
President
4,000
$26.66
$106,640.00
07/02/2012
Jeffrey W. Priest
President
1,100
$27.29
$30,019.00
07/09/2012
Jeffrey W. Priest
President
1,000
$27.24
$27,239.00
Priest's average cost works out to $26.86/share. Shares of General American Investors Incorporated were changing hands at $28.27 at last check, trading up about 0.2% on Thursday. The chart below shows the one year performance of GAM shares, versus its 200 day moving average:
Looking at the chart above, GAM's low point in its 52 week range is $20.57 per share, with $29.40 as the 52 week high point — that compares with a last trade of $28.27.
According to the ETF Finder at ETF Channel, GAM makes up 3.52% of the Global Wind Energy Portfolio ETF (PWND) which is trading up by about 0.2% on the day Thursday.
This Article's Word Cloud:AmericanBrassBuysEnergyEstablishGeneralIncorporatedInvestorsJeffreyPWNDPlacePortfolioPresidentPriestSharesStartThursdayValueWindaboutaboveaveragebuyschartcompanyduringhaveinsiderlastmakemaybeopenotherpointretirementsecuresharestockstreamtakethattheirtheythistradingweekwhatwhenwhichwith
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