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

Atlantic American Corporation (NASDAQ:AAME) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 16,001 shares, an increase of 114.3% from the July 15th total of 7,465 shares. Based on an average daily volume of 8,769 shares, the days-to-cover ratio is presently 1.8 days. Currently, 0.4% of the company’s shares are sold short.

Atlantic American Stock Performance

Atlantic American stock traded up $0.03 during midday trading on Friday, reaching $1.45. The stock had a trading volume of 35,087 shares, compared to its average volume of 11,046. The stock’s 50-day simple moving average is $1.64 and its 200 day simple moving average is $2.19. Atlantic American has a twelve month low of $1.41 and a twelve month high of $3.71. The stock has a market capitalization of $29.58 million, a PE ratio of 6.59 and a beta of 0.77.

Analyst Upgrades and Downgrades

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

Institutional Trading of Atlantic American

Institutional investors have recently modified their holdings of the company. Citadel Advisors LLC acquired a new stake in Atlantic American during the 3rd quarter worth approximately $81,000. Geode Capital Management LLC lifted its position 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 valued at $131,000 after buying an additional 4,368 shares in the last quarter. BlackRock Inc. acquired a new position in Atlantic American during the second quarter valued at approximately $179,000. Finally, Biglari Sardar purchased a new stake in Atlantic American during the second quarter worth approximately $176,788,000. Hedge funds and other 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.