Atlantic American Corporation (NASDAQ:AAME) Short Interest Update

Atlantic American Corporation (NASDAQ:AAME) was the target of a significant growth in short interest during the month of August. As of August 31st, there was short interest totaling 35,447 shares, a growth of 355.5% from the August 15th total of 7,782 shares. Based on an average trading volume of 271,781 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.9% of the shares of the stock are sold short.

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 7th. One equities research analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company has an average rating of “Sell”.

Atlantic American Trading Up 1.2%

Shares of Atlantic American stock traded up $0.01 on Friday, hitting $1.31. The stock had a trading volume of 1,630 shares, compared to its average volume of 30,957. Atlantic American has a 52-week low of $1.25 and a 52-week high of $3.46. The company’s 50 day moving average price is $1.49 and its 200 day moving average price is $2.01. The stock has a market cap of $26.83 million, a price-to-earnings ratio of 5.98 and a beta of 0.77.

Institutional Trading of Atlantic American

A number of institutional investors have recently modified their holdings of the business. BlackRock Inc. purchased a new position in Atlantic American in the second quarter valued at about $179,000. Biglari Sardar purchased a new position in shares of Atlantic American during the second quarter valued at approximately $176,788. Geode Capital Management LLC boosted 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 last quarter. Finally, Citadel Advisors LLC purchased a new stake in Atlantic American in the 3rd quarter valued at about $81,000. 5.54% of the stock is currently owned by hedge funds and other institutional investors.

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.