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

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

Atlantic American Trading Up 3.0 %

Shares of AAME opened at $1.70 on Wednesday. Atlantic American has a twelve month low of $1.26 and a twelve month high of $3.00. The stock’s 50 day moving average is $1.52 and its two-hundred day moving average is $1.59. The firm has a market capitalization of $34.68 million, a PE ratio of -4.86 and a beta of 0.45.

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

Institutional Inflows and Outflows

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the period. Atlantic American accounts for about 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned 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.

Analysts Set New Price Targets

Separately, StockNews.com began coverage on Atlantic American in a report on Tuesday, January 21st. They set 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.