Atlantic American Co. (NASDAQ:AAME) Short Interest Up 639.3% in August

Atlantic American Co. (NASDAQ:AAME) was the recipient of a significant increase in short interest in August. As of August 31st, there was short interest totalling 41,400 shares, an increase of 639.3% from the August 15th total of 5,600 shares. Based on an average daily trading volume, of 4,000 shares, the days-to-cover ratio is presently 10.4 days. Approximately 1.1% of the company’s shares are short sold.

Analysts Set New Price Targets

Separately, StockNews.com assumed coverage on Atlantic American in a research note on Saturday, September 7th. They set a “hold” rating for the company.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. Independent Advisor Alliance acquired a new stake in Atlantic American Co. (NASDAQ:AAME) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 13,101 shares of the financial services provider’s stock, valued at approximately $32,000. Independent Advisor Alliance owned approximately 0.06% of Atlantic American at the end of the most recent quarter. 5.48% of the stock is currently owned by institutional investors.

Atlantic American Stock Down 4.6 %

AAME stock opened at $1.66 on Friday. The business has a fifty day moving average of $1.59 and a two-hundred day moving average of $1.91. The stock has a market cap of $33.87 million, a price-to-earnings ratio of -33.20 and a beta of 0.44. Atlantic American has a 52-week low of $1.49 and a 52-week high of $3.00.

Atlantic American (NASDAQ:AAME) last posted its earnings results on Wednesday, August 14th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter. The business had revenue of $47.67 million for the quarter. Atlantic American had a negative return on equity of 5.89% and a negative net margin of 1.69%.

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.