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

Atlantic American Corporation (NASDAQ:AAME) saw a significant decrease in short interest during the month of June. As of June 15th, there was short interest totaling 3,381 shares, a decrease of 51.8% from the May 31st total of 7,011 shares. Approximately 0.1% of the shares of the stock are short sold. Based on an average daily volume of 25,276 shares, the short-interest ratio is presently 0.1 days.

Analysts Set New Price Targets

Separately, Weiss Ratings upgraded shares of Atlantic American from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Atlantic American Stock Performance

Shares of AAME stock traded down $0.01 on Tuesday, hitting $1.71. 9,736 shares of the company’s stock traded hands, compared to its average volume of 20,745. Atlantic American has a one year low of $1.59 and a one year high of $3.71. The company’s fifty day simple moving average is $2.13 and its 200 day simple moving average is $2.47. The stock has a market capitalization of $34.92 million, a price-to-earnings ratio of 7.78 and a beta of 0.73.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the company. Teton Advisors LLC purchased a new position in shares of Atlantic American in the third quarter worth about $55,000. Citadel Advisors LLC acquired a new position in Atlantic American in the 3rd quarter worth approximately $81,000. Finally, Geode Capital Management LLC increased its holdings in Atlantic American by 10.4% in the 4th 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 period. 5.54% of the stock is owned by institutional investors and hedge funds.

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.