Atlantic American Corporation (NASDAQ:AAME) Stock Short Interest Drops 35.7%

Atlantic American Corporation (NASDAQ:AAME) saw a large decrease in short interest in the month of September. As of September 15th, there was short interest totaling 22,802 shares, a decrease of 35.7% from the August 31st total of 35,447 shares. Approximately 0.6% of the shares of the stock are sold short. Based on an average daily volume of 35,485 shares, the days-to-cover ratio is presently 0.6 days.

Atlantic American Stock Down 0.8%

Shares of NASDAQ AAME opened at $1.30 on Friday. The firm has a market cap of $26.52 million, a price-to-earnings ratio of 5.91 and a beta of 0.82. The company’s 50-day simple moving average is $1.40 and its 200-day simple moving average is $1.87. Atlantic American has a 52-week low of $1.25 and a 52-week high of $3.24.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. Biglari Sardar bought a new position in shares of Atlantic American Corporation (NASDAQ:AAME) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund bought 105,861 shares of the financial services provider’s stock, valued at approximately $176,788. Atlantic American comprises about 0.0% of Biglari Sardar’s investment portfolio, making the stock its 10th largest holding. Biglari Sardar owned 0.52% of Atlantic American as of its most recent SEC filing. Institutional investors own 5.54% of the company’s stock.

Analyst Ratings Changes

Separately, Weiss Ratings cut Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Sell rating, According to data from MarketBeat.com, the stock currently has a consensus rating of “Sell”.

About Atlantic American

Atlantic American Corporation (NASDAQ:AAME) is an insurance holding company headquartered in Atlanta, Georgia. Through its operating subsidiaries, the company provides property and casualty insurance as well as life and supplemental health insurance products to individuals, businesses, and organizations.

Its property and casualty operations include American Southern Insurance Company and related insurance businesses. These operations focus on specialty commercial coverage, including surety bonds, commercial automobile and general liability insurance, workers’ compensation, and other products for public and private-sector customers.