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

Atlantic American Corporation (NASDAQ:AAME) was the recipient of a large drop in short interest during the month of August. As of August 14th, there was short interest totaling 7,782 shares, a drop of 51.4% from the July 30th total of 16,001 shares. Approximately 0.2% of the company’s shares are sold short. Based on an average trading volume of 18,323 shares, the days-to-cover ratio is currently 0.4 days.

Analysts Set New Price Targets

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

Atlantic American Trading Down 10.2%

Shares of NASDAQ AAME traded down $0.16 during mid-day trading on Friday, reaching $1.41. The company had a trading volume of 261,531 shares, compared to its average volume of 142,948. The business’s 50-day moving average is $1.56 and its 200-day moving average is $2.10. The stock has a market cap of $28.76 million, a price-to-earnings ratio of 6.41 and a beta of 0.77. Atlantic American has a 52 week low of $1.25 and a 52 week high of $3.47.

Institutional Investors Weigh In On Atlantic American

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Citadel Advisors LLC purchased a new stake in Atlantic American during the 3rd quarter valued at about $81,000. Geode Capital Management LLC lifted its holdings in shares of Atlantic American by 10.4% during the fourth 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 period. Biglari Sardar purchased a new stake in Atlantic American in the second quarter valued at approximately $176,788. Finally, BlackRock Inc. purchased a new stake in Atlantic American in the second quarter valued at approximately $179,000. 5.54% of the stock is currently owned by hedge funds and other institutional investors.

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.