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

Atlantic American Corporation (NASDAQ:AAME) saw a large decline in short interest in the month of September. As of September 15th, there was short interest totaling 22,802 shares, a decline of 35.7% from the August 31st total of 35,447 shares. Based on an average daily volume of 35,485 shares, the short-interest ratio is presently 0.6 days. Approximately 0.6% of the company’s shares are sold short.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. BlackRock Inc. acquired a new position in Atlantic American Corporation (NASDAQ:AAME) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 107,440 shares of the financial services provider’s stock, valued at approximately $179,000. BlackRock Inc. owned about 0.53% of Atlantic American at the end of the most recent reporting period. Institutional investors and hedge funds own 5.54% of the company’s stock.

Wall Street Analyst Weigh In

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

Atlantic American Price Performance

AAME stock opened at $1.27 on Friday. The company has a market cap of $25.90 million, a P/E ratio of 5.77 and a beta of 0.82. Atlantic American has a 1 year low of $1.25 and a 1 year high of $3.24. The stock’s fifty day moving average price is $1.40 and its 200-day moving average price is $1.86.

About Atlantic American

Atlantic American Corporation (NASDAQ:AAME) is an insurance holding company headquartered in Atlanta, Georgia. Through its operating subsidiaries, the company provides property and casualty insurance as well as life and supplemental health insurance products to individuals, businesses, and organizations.

Its property and casualty operations include American Southern Insurance Company and related insurance businesses. These operations focus on specialty commercial coverage, including surety bonds, commercial automobile and general liability insurance, workers’ compensation, and other products for public and private-sector customers.