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

Atlantic American Corporation (NASDAQ:AAME) was the recipient of a large increase in short interest during 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. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily trading volume, of 8,769 shares, the days-to-cover ratio is currently 1.8 days.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut 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, According to data from MarketBeat, Atlantic American currently has an average rating of “Sell”.

Atlantic American Stock Up 2.1%

Shares of NASDAQ:AAME traded up $0.03 during trading on Friday, reaching $1.45. The stock had a trading volume of 35,087 shares, compared to its average volume of 11,046. The business has a fifty day moving average price of $1.64 and a 200-day moving average price 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 fifty-two week low of $1.41 and a fifty-two week high of $3.71.

Institutional Investors Weigh In On Atlantic American

Hedge funds and other institutional investors have recently made changes to their positions in the business. Citadel Advisors LLC purchased a new position in Atlantic American during the third quarter worth about $81,000. Geode Capital Management LLC grew its holdings 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 valued at $131,000 after buying an additional 4,368 shares during the period. BlackRock Inc. purchased a new stake in Atlantic American in the 2nd quarter valued at about $179,000. Finally, Biglari Sardar acquired a new position in shares of Atlantic American during the 2nd quarter valued at about $176,788,000. Hedge funds and other institutional investors own 5.54% of the company’s stock.

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.