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

Atlantic American Co. (NASDAQ:AAME) was the recipient of a large decrease in short interest during the month of October. As of October 31st, there was short interest totalling 41,800 shares, a decrease of 6.7% from the October 15th total of 44,800 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average daily volume of 4,700 shares, the days-to-cover ratio is currently 8.9 days.

Hedge Funds 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% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American comprises 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest position. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. 5.48% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com started coverage on Atlantic American in a research report on Monday. They set a “hold” rating on the stock.

Atlantic American Stock Down 1.2 %

Atlantic American stock opened at $1.65 on Tuesday. The firm has a market cap of $33.66 million, a price-to-earnings ratio of -4.71 and a beta of 0.46. Atlantic American has a 52 week low of $1.43 and a 52 week high of $3.00. The business’s 50-day moving average price is $1.65 and its 200 day moving average price is $1.65.

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.