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

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

Analyst Upgrades and Downgrades

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

Check Out Our Latest Report on Atlantic American

Atlantic American Trading Up 2.1%

NASDAQ:AAME traded up $0.04 on Wednesday, hitting $1.71. The company had a trading volume of 2,470 shares, compared to its average volume of 13,349. The stock has a market capitalization of $34.78 million, a price-to-earnings ratio of 7.75 and a beta of 0.73. The firm has a 50 day moving average of $2.11 and a two-hundred day moving average of $2.47. Atlantic American has a 52 week low of $1.59 and a 52 week high of $3.71.

Institutional Investors Weigh In On Atlantic American

Hedge funds and other institutional investors have recently bought and sold shares of the company. Teton Advisors LLC acquired a new position in Atlantic American in the 3rd quarter worth about $55,000. Citadel Advisors LLC bought a new stake in shares of Atlantic American during the third quarter worth about $81,000. Finally, Geode Capital Management LLC grew its holdings in shares of 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 purchasing an additional 4,368 shares during the last quarter. Institutional investors own 5.54% of the company’s stock.

Atlantic American Company Profile

(Get Free Report)

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.

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