Atlantic American Corporation (NASDAQ:AAME) Short Interest Up 114.3% in July

Atlantic American Corporation (NASDAQ:AAME) saw a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 16,001 shares, an increase of 114.3% from the July 15th total of 7,465 shares. Based on an average daily volume of 8,769 shares, the days-to-cover ratio is presently 1.8 days. Approximately 0.4% of the shares of the company are short sold.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Biglari Sardar purchased a new stake in shares of Atlantic American in the second quarter worth $176,788,000. BlackRock Inc. purchased a new position in Atlantic American during the second quarter worth about $179,000. Geode Capital Management LLC grew its position 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 worth $131,000 after buying an additional 4,368 shares in the last quarter. Finally, Citadel Advisors LLC bought a new position in Atlantic American in the 3rd quarter worth about $81,000. Institutional investors own 5.54% of the company’s stock.

Atlantic American Trading Up 2.1%

Shares of NASDAQ:AAME opened at $1.45 on Friday. The company has a 50 day moving average of $1.64 and a 200 day moving average of $2.19. The stock has a market cap of $29.58 million, a P/E ratio of 6.59 and a beta of 0.77. Atlantic American has a 12 month low of $1.41 and a 12 month high of $3.71.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings downgraded 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.com, Atlantic American has an average rating of “Sell”.

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.