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

Atlantic American Corporation (NASDAQ:AAME) was the target of a large decrease in short interest during the month of June. As of June 15th, there was short interest totaling 3,381 shares, a decrease of 51.8% from the May 31st total of 7,011 shares. Currently, 0.1% of the shares of the company are sold short. Based on an average trading volume of 25,276 shares, the short-interest ratio is currently 0.1 days.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings raised shares of Atlantic American from a “sell (d+)” rating to a “hold (c-)” rating in a report on Thursday, June 18th. One investment analyst has rated the stock with a Hold rating, According to data from MarketBeat.com, Atlantic American presently has an average rating of “Hold”.

Atlantic American Stock Down 0.5%

Shares of AAME stock traded down $0.01 during trading hours on Tuesday, hitting $1.71. 9,736 shares of the company’s stock were exchanged, compared to its average volume of 20,745. Atlantic American has a fifty-two week low of $1.59 and a fifty-two week high of $3.71. The firm has a market cap of $34.92 million, a P/E ratio of 7.78 and a beta of 0.73. The firm has a 50 day moving average of $2.13 and a two-hundred day moving average of $2.47.

Hedge Funds Weigh In On Atlantic American

A number of large investors have recently added to or reduced their stakes in AAME. Geode Capital Management LLC lifted its holdings in 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 valued at $131,000 after purchasing an additional 4,368 shares in the last quarter. Citadel Advisors LLC purchased a new stake in shares of Atlantic American during the third quarter worth about $81,000. Finally, Teton Advisors LLC purchased a new stake in shares of Atlantic American during the third quarter worth about $55,000. 5.54% of the stock is currently owned by institutional investors and hedge funds.

About Atlantic American

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.