Short Interest in Atlantic American Corporation (NASDAQ:AAME) Declines By 45.0%

Atlantic American Corporation (NASDAQ:AAME) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 4,344 shares, a decline of 45.0% from the April 30th total of 7,903 shares. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 7,239 shares, the days-to-cover ratio is currently 0.6 days.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of AAME. Teton Advisors LLC acquired a new position in shares of Atlantic American during the 3rd quarter valued at $55,000. Citadel Advisors LLC bought a new stake in Atlantic American during the 3rd quarter valued at $81,000. Finally, Geode Capital Management LLC increased its stake in Atlantic American by 10.4% during the 4th 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. Institutional investors and hedge funds own 5.54% of the company’s stock.

Atlantic American Trading Down 3.4%

NASDAQ:AAME traded down $0.07 during mid-day trading on Tuesday, hitting $2.01. 4,423 shares of the company’s stock were exchanged, compared to its average volume of 6,690. The company has a 50 day simple moving average of $2.39 and a 200-day simple moving average of $2.58. Atlantic American has a fifty-two week low of $1.65 and a fifty-two week high of $3.71. The firm has a market capitalization of $41.00 million, a P/E ratio of 9.20 and a beta of 0.79.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered shares of Atlantic American from a “hold (c)” rating to a “hold (c-)” rating in a report on Thursday, May 14th. One investment analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Atlantic American has an average rating of “Hold”.

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.