Short Interest in Atlantic American Corporation (NASDAQ:AAME) Expands By 355.5%

Atlantic American Corporation (NASDAQ:AAME) saw a large 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 short-interest ratio is presently 0.1 days. Approximately 0.9% of the shares of the stock are short sold.

Analyst Upgrades and Downgrades

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

Institutional Investors Weigh In On Atlantic American

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. BlackRock Inc. bought a new position in shares of Atlantic American in the second quarter worth approximately $179,000. Biglari Sardar purchased a new stake in shares of Atlantic American during the second quarter valued at approximately $176,788. Citadel Advisors LLC bought a new stake in shares of Atlantic American during the third quarter valued at approximately $81,000. Finally, Geode Capital Management LLC increased its position 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 acquiring an additional 4,368 shares in the last quarter. Hedge funds and other institutional investors own 5.54% of the company’s stock.

Atlantic American Stock Down 0.8%

Shares of AAME traded down $0.01 during mid-day trading on Friday, hitting $1.29. 9,125 shares of the company’s stock traded hands, compared to its average volume of 168,058. Atlantic American has a 1 year low of $1.25 and a 1 year high of $3.46. The firm has a market capitalization of $26.32 million, a P/E ratio of 5.86 and a beta of 0.77. The business’s 50-day moving average price is $1.48 and its 200-day moving average price is $2.00.

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.