Atlantic American Corporation (NASDAQ:AAME) Sees Large Increase in Short Interest

Atlantic American Corporation (NASDAQ:AAME) saw a significant increase in short interest in August. As of August 31st, there was short interest totaling 35,447 shares, an increase of 355.5% from the August 15th total of 7,782 shares. Currently, 0.9% of the company’s stock are short sold. Based on an average daily volume of 271,781 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On Atlantic American

Several hedge funds and other institutional investors have recently made changes to their positions in AAME. Citadel Advisors LLC acquired a new stake in shares of Atlantic American during the 3rd quarter worth approximately $81,000. Geode Capital Management LLC lifted its stake in Atlantic American by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock valued at $131,000 after buying an additional 4,368 shares during the period. BlackRock Inc. bought a new position in Atlantic American during the second quarter worth about $179,000. Finally, Biglari Sardar acquired a new position in shares of Atlantic American during the 2nd quarter worth about $176,788. 5.54% of the stock is owned by institutional investors and hedge funds.

Atlantic American Stock Up 1.2%

NASDAQ AAME traded up $0.01 on Friday, reaching $1.31. 1,630 shares of the stock traded hands, compared to its average volume of 30,957. The firm’s fifty day simple moving average is $1.49 and its 200 day simple moving average is $2.01. The company has a market cap of $26.83 million, a price-to-earnings ratio of 5.98 and a beta of 0.77. Atlantic American has a 12 month low of $1.25 and a 12 month high of $3.46.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

Atlantic American Company Profile

Atlantic American Corporation is a Florida-based holding company that engages in the insurance business through its wholly owned subsidiaries. The company’s operations are organized into four principal segments: Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, and Risk Retention Group. Through these lines of business, Atlantic American provides a range of insurance products and services to individuals, businesses and affinity groups across the United States.

In its Life Insurance segment, Atlantic American offers traditional whole life and universal life policies, emphasizing guaranteed death benefits and cash value accumulation.