Short Interest in Atlantic American Corporation (NASDAQ:AAME) Declines By 51.4%

Atlantic American Corporation (NASDAQ:AAME) was the recipient of a significant decline in short interest in August. As of August 14th, there was short interest totaling 7,782 shares, a decline of 51.4% from the July 30th total of 16,001 shares. Based on an average trading volume of 18,323 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.2% of the shares of the stock are short sold.

Hedge Funds Weigh In On Atlantic American

Several institutional investors and hedge funds have recently added to or reduced their stakes in AAME. Biglari Sardar acquired a new stake in Atlantic American during the 2nd quarter valued at $176,788. BlackRock Inc. purchased a new position in shares of Atlantic American during the second quarter valued at $179,000. Geode Capital Management LLC raised 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 valued at $131,000 after buying an additional 4,368 shares during the period. Finally, Citadel Advisors LLC acquired a new position in Atlantic American during the third quarter valued at $81,000. 5.54% of the stock is currently owned by hedge funds and other institutional investors.

Atlantic American Trading Down 10.2%

Shares of AAME traded down $0.16 during midday trading on Friday, hitting $1.41. The stock had a trading volume of 261,531 shares, compared to its average volume of 142,948. The business has a 50-day simple moving average of $1.56 and a two-hundred day simple moving average of $2.10. The firm has a market cap of $28.76 million, a P/E ratio of 6.41 and a beta of 0.77. Atlantic American has a fifty-two week low of $1.25 and a fifty-two week high of $3.47.

Analysts Set New Price Targets

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

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.