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

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

Analysts Set New Price Targets

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

Atlantic American Price Performance

Shares of NASDAQ AAME opened at $1.66 on Friday. The company has a market capitalization of $33.87 million, a price-to-earnings ratio of -33.20 and a beta of 0.44. The business has a 50-day moving average of $1.59 and a two-hundred day moving average of $1.91. Atlantic American has a 1 year low of $1.49 and a 1 year high of $3.00.

Atlantic American (NASDAQ:AAME) last announced its quarterly 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%.

Institutional Trading of Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. Independent Advisor Alliance bought a new stake in Atlantic American Co. (NASDAQ:AAME) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 13,101 shares of the financial services provider’s stock, valued at approximately $32,000. Independent Advisor Alliance owned about 0.06% of Atlantic American as of its most recent filing with the Securities and Exchange Commission. Institutional investors and hedge funds own 5.48% of the company’s stock.

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.