Atlantic American Co. (NASDAQ:AAME) Sees Significant Growth in Short Interest

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

Atlantic American Price Performance

Shares of AAME opened at $1.70 on Thursday. The stock has a market capitalization of $34.68 million, a price-to-earnings ratio of -4.86 and a beta of 0.45. Atlantic American has a 1 year low of $1.26 and a 1 year high of $3.00. The business’s 50 day simple moving average is $1.53 and its 200-day simple moving average is $1.59.

Atlantic American (NASDAQ:AAME) last released its quarterly earnings results on Tuesday, November 12th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%. The business had revenue of $44.52 million for the quarter.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American accounts for approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest holding. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 at the end of the most recent quarter. 5.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

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

Atlantic American Company Profile

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.