Short Interest in Atlantic American Co. (NASDAQ:AAME) Declines By 95.0%

Atlantic American Co. (NASDAQ:AAME) was the recipient of a significant drop in short interest during the month of November. As of November 15th, there was short interest totalling 2,100 shares, a drop of 95.0% from the October 31st total of 41,800 shares. Currently, 0.1% of the company’s shares are short sold. Based on an average trading volume of 5,300 shares, the days-to-cover ratio is presently 0.4 days.

Atlantic American Stock Performance

Shares of AAME opened at $1.56 on Thursday. The company has a market cap of $31.82 million, a price-to-earnings ratio of -4.46 and a beta of 0.46. The firm has a fifty day moving average of $1.64 and a 200-day moving average of $1.64. Atlantic American has a 1 year low of $1.26 and a 1 year high of $3.00.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar lifted its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American accounts for 0.7% of Biglari Sardar’s portfolio, making the stock its 10th largest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities & Exchange Commission. Institutional investors own 5.48% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Atlantic American in a report on Tuesday. They issued a “hold” rating for the company.

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.