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

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

Wall Street Analyst Weigh In

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

Atlantic American Stock Performance

Shares of AAME traded down $0.08 during trading hours on Wednesday, hitting $1.95. 2,496 shares of the company were exchanged, compared to its average volume of 11,848. Atlantic American has a 52 week low of $1.65 and a 52 week high of $3.71. The company has a market cap of $39.78 million, a PE ratio of 8.86 and a beta of 0.73. The firm’s 50 day moving average is $2.39 and its 200-day moving average is $2.58.

Hedge Funds Weigh In On Atlantic American

Large investors have recently made changes to their positions in the business. Teton Advisors LLC acquired a new position in shares of Atlantic American during the 3rd quarter worth about $55,000. Citadel Advisors LLC acquired a new position in shares of Atlantic American during the 3rd quarter worth about $81,000. Finally, Geode Capital Management LLC lifted its position in shares of 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 worth $131,000 after purchasing an additional 4,368 shares during the last quarter. Institutional investors and hedge funds 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.