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

Atlantic American Corporation (NASDAQ:AAME) was the recipient 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. Approximately 0.1% of the shares of the stock are sold short. Based on an average trading volume of 25,276 shares, the days-to-cover ratio is presently 0.1 days.

Atlantic American Price Performance

Shares of AAME stock opened at $1.66 on Thursday. The company has a market cap of $33.86 million, a PE ratio of 7.55 and a beta of 0.73. Atlantic American has a 1 year low of $1.59 and a 1 year high of $3.71. The stock’s 50 day simple moving average is $2.10 and its two-hundred day simple moving average is $2.46.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Atlantic American from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Atlantic American has a consensus rating of “Hold”.

Institutional Trading of Atlantic American

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Teton Advisors LLC purchased a new position in shares of Atlantic American during the 3rd quarter worth about $55,000. Citadel Advisors LLC bought a new position in shares of Atlantic American during the third quarter valued at approximately $81,000. Finally, Geode Capital Management LLC grew its stake 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 valued at $131,000 after buying an additional 4,368 shares during the last quarter. Hedge funds and other institutional investors own 5.54% of the company’s stock.

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.