Atlantic American Co. (NASDAQ:AAME) Short Interest Down 94.6% in March

Atlantic American Co. (NASDAQ:AAME) saw a large drop in short interest in the month of March. As of March 15th, there was short interest totalling 2,300 shares, a drop of 94.6% from the February 28th total of 42,800 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily trading volume, of 5,600 shares, the short-interest ratio is presently 0.4 days.

Atlantic American Stock Performance

Shares of NASDAQ AAME traded down $0.05 during mid-day trading on Wednesday, hitting $1.73. The stock had a trading volume of 20,277 shares, compared to its average volume of 5,390. The company has a 50 day moving average of $1.55 and a two-hundred day moving average of $1.58. The firm has a market cap of $35.29 million, a PE ratio of -4.94 and a beta of 0.58. Atlantic American has a twelve month low of $1.25 and a twelve month high of $2.84.

Atlantic American (NASDAQ:AAME) last released its earnings results on Tuesday, March 25th. The financial services provider reported ($0.04) earnings per share for the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%. The firm had revenue of $49.04 million during the quarter.

Atlantic American Dividend Announcement

The firm also recently announced an annual dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a yield of 1.1%. Atlantic American’s dividend payout ratio (DPR) is presently -5.71%.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar grew its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American comprises approximately 0.7% of Biglari Sardar’s portfolio, making the stock its 10th biggest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.48% of the company’s stock.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on Atlantic American in a research note on Wednesday. They issued a “hold” rating on the stock.

About Atlantic American

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.