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

Atlantic American Corporation (NASDAQ:AAME) was the target of a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 4,447 shares, a decline of 26.6% from the February 26th total of 6,056 shares. Based on an average daily volume of 8,502 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company’s stock are short sold.

Hedge Funds Weigh In On Atlantic American

A number of institutional investors have recently made changes to their positions in the business. Geode Capital Management LLC increased its position in Atlantic American by 10.4% in the 4th quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock worth $131,000 after buying an additional 4,368 shares during the period. Citadel Advisors LLC bought a new position in Atlantic American during the third quarter worth $81,000. Finally, Teton Advisors LLC acquired a new position in Atlantic American during the 3rd quarter valued at $55,000. 5.54% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Weiss Ratings restated a “hold (c-)” rating on shares of Atlantic American in a report on Wednesday, December 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat.com, the stock has a consensus rating of “Hold”.

Atlantic American Price Performance

Shares of AAME opened at $2.53 on Tuesday. The company has a market capitalization of $51.61 million, a PE ratio of 11.50 and a beta of 0.69. Atlantic American has a one year low of $1.26 and a one year high of $3.71. The company’s fifty day moving average price is $2.66 and its 200 day moving average price is $2.78.

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.