Atlantic American Corporation (NASDAQ:AAME) Short Interest Up 61.4% in May

Atlantic American Corporation (NASDAQ:AAME) was the target of a large growth in short interest in May. As of May 29th, there was short interest totaling 7,011 shares, a growth of 61.4% from the May 14th total of 4,344 shares. Based on an average daily volume of 6,209 shares, the short-interest ratio is currently 1.1 days. Currently, 0.2% of the company’s stock are sold short.

Atlantic American Stock Performance

NASDAQ AAME opened at $1.80 on Tuesday. The stock has a market capitalization of $36.72 million, a price-to-earnings ratio of 8.18 and a beta of 0.73. The stock’s 50 day moving average price is $2.26 and its two-hundred day moving average price is $2.52. Atlantic American has a 52 week low of $1.59 and a 52 week high of $3.71.

Analysts Set New Price Targets

Separately, Weiss Ratings cut Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. One analyst has rated the stock with a Sell rating, According to MarketBeat, the stock currently has an average rating of “Sell”.

Institutional Investors Weigh In On Atlantic American

Several institutional investors have recently bought and sold shares of AAME. Teton Advisors LLC bought a new stake in Atlantic American in the 3rd quarter valued at approximately $55,000. Citadel Advisors LLC acquired a new position in shares of Atlantic American during the 3rd quarter worth approximately $81,000. Finally, Geode Capital Management LLC increased its position in shares of Atlantic American by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 4,368 shares during the last quarter. Institutional investors own 5.54% of the company’s stock.

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.