Atlantic American Co. (NASDAQ:AAME) Sees Large Increase in Short Interest

Atlantic American Co. (NASDAQ:AAME) was the recipient of a large growth in short interest in the month of December. As of December 31st, there was short interest totalling 41,300 shares, a growth of 5,062.5% from the December 15th total of 800 shares. Based on an average daily volume of 4,700 shares, the short-interest ratio is currently 8.8 days. Approximately 1.1% of the shares of the stock are sold short.

Atlantic American Stock Down 0.3 %

Shares of Atlantic American stock traded down $0.01 on Monday, reaching $1.48. 833 shares of the stock were exchanged, compared to its average volume of 5,603. Atlantic American has a twelve month low of $1.26 and a twelve month high of $3.00. The firm has a market capitalization of $30.19 million, a price-to-earnings ratio of -4.23 and a beta of 0.45. The business has a 50 day moving average price of $1.56 and a two-hundred day moving average price of $1.59.

Analysts Set New Price Targets

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

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar increased its position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American makes up approximately 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest position. Biglari Sardar owned about 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.

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.