Atlantic American Co. (NASDAQ:AAME) Short Interest Down 6.7% in October

Atlantic American Co. (NASDAQ:AAME) was the target of a large decline in short interest in October. As of October 31st, there was short interest totalling 41,800 shares, a decline of 6.7% from the October 15th total of 44,800 shares. Approximately 1.1% of the company’s stock are short sold. Based on an average trading volume of 4,700 shares, the days-to-cover ratio is presently 8.9 days.

Wall Street Analysts Forecast Growth

Separately, StockNews.com started coverage on shares of Atlantic American in a research note on Sunday, November 10th. They set a “hold” rating for the company.

Institutional Investors Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar grew its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities & Exchange Commission. 5.48% of the stock is owned by institutional investors.

Atlantic American Price Performance

Atlantic American stock opened at $1.67 on Monday. The company’s 50-day moving average is $1.65 and its 200-day moving average is $1.66. The firm has a market capitalization of $34.07 million, a PE ratio of -4.77 and a beta of 0.46. Atlantic American has a fifty-two week low of $1.43 and a fifty-two week high of $3.00.

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.