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

Atlantic American Co. (NASDAQ:AAME) saw a significant growth in short interest during 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. Currently, 1.1% of the company’s shares are short sold. Based on an average daily trading volume, of 4,700 shares, the short-interest ratio is presently 8.8 days.

Analyst Ratings Changes

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

Atlantic American Trading Down 0.3 %

AAME traded down $0.01 during mid-day trading on Monday, hitting $1.48. 833 shares of the stock were exchanged, compared to its average volume of 5,603. The firm’s fifty day moving average is $1.56 and its two-hundred day moving average is $1.59. Atlantic American has a 1-year low of $1.26 and a 1-year high of $3.00. The company has a market cap of $30.19 million, a PE ratio of -4.23 and a beta of 0.45.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar lifted its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. 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 makes up 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th biggest holding. Biglari Sardar owned about 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.

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.