Atlantic American Corporation (NASDAQ:AAME) Sees Significant Decline in Short Interest

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

Analysts Set New Price Targets

Separately, Weiss Ratings downgraded shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a report on Tuesday, July 7th. One research analyst has rated the stock with a Sell rating, According to MarketBeat.com, the stock currently has an average rating of “Sell”.

Atlantic American Trading Up 2.5%

Shares of NASDAQ AAME opened at $1.45 on Monday. The stock has a market cap of $29.48 million, a price-to-earnings ratio of 6.57 and a beta of 0.78. The stock’s 50-day moving average is $1.56 and its 200 day moving average is $2.10. Atlantic American has a 1-year low of $1.25 and a 1-year high of $3.47.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of AAME. Citadel Advisors LLC bought a new position in shares of Atlantic American during the third quarter valued at approximately $81,000. Geode Capital Management LLC increased its position in 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 valued at $131,000 after buying an additional 4,368 shares in the last quarter. Biglari Sardar bought a new stake in Atlantic American in the second quarter worth $176,788. Finally, BlackRock Inc. purchased a new stake in shares of Atlantic American in the second quarter worth $179,000. 5.54% of the stock is currently owned by institutional investors.

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.