Short Interest in Atlantic American Corporation (NASDAQ:AAME) Expands By 355.5%

Atlantic American Corporation (NASDAQ:AAME) saw a significant increase in short interest in the month of August. As of August 31st, there was short interest totaling 35,447 shares, an increase of 355.5% from the August 15th total of 7,782 shares. Based on an average daily trading volume, of 271,781 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.9% of the company’s shares are sold short.

Atlantic American Stock Performance

Shares of Atlantic American stock traded down $0.01 during trading on Friday, hitting $1.29. 9,125 shares of the stock were exchanged, compared to its average volume of 168,058. The stock’s fifty day moving average is $1.48 and its 200 day moving average is $2.00. The stock has a market cap of $26.32 million, a PE ratio of 5.86 and a beta of 0.77. Atlantic American has a 12 month low of $1.25 and a 12 month high of $3.46.

Hedge Funds Weigh In On Atlantic American

Several hedge funds have recently bought and sold shares of AAME. Geode Capital Management LLC raised its stake 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 purchasing an additional 4,368 shares during the last quarter. Citadel Advisors LLC acquired a new stake in shares of Atlantic American in the third quarter valued at approximately $81,000. Biglari Sardar bought a new stake in Atlantic American during the second quarter worth $176,788. Finally, BlackRock Inc. acquired a new position in shares of Atlantic American in the second quarter valued at $179,000. 5.54% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, Weiss Ratings downgraded 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 data from MarketBeat, Atlantic American currently has an average rating of “Sell”.

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.