Atlantic American Corporation (NASDAQ:AAME) Short Interest Up 61.4% in May

Atlantic American Corporation (NASDAQ:AAME) saw a significant increase in short interest in May. As of May 29th, there was short interest totaling 7,011 shares, an increase of 61.4% from the May 14th total of 4,344 shares. Based on an average daily trading volume, of 6,209 shares, the days-to-cover ratio is presently 1.1 days. Approximately 0.2% of the shares of the stock are short sold.

Atlantic American Price Performance

AAME opened at $1.80 on Tuesday. The company has a market cap of $36.72 million, a price-to-earnings ratio of 8.18 and a beta of 0.73. The firm has a 50 day simple moving average of $2.26 and a 200 day simple moving average of $2.52. Atlantic American has a fifty-two week low of $1.59 and a fifty-two week high of $3.71.

Analysts Set New Price Targets

Separately, Weiss Ratings lowered Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Hedge Funds Weigh In On Atlantic American

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in AAME. Teton Advisors LLC bought a new position in Atlantic American during the third quarter worth about $55,000. Citadel Advisors LLC bought a new position in Atlantic American during the third quarter worth about $81,000. Finally, Geode Capital Management LLC boosted its holdings 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 worth $131,000 after buying an additional 4,368 shares during the last quarter. Institutional investors own 5.54% of the company’s stock.

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.