Atlantic American Co. (NASDAQ:AAME) Short Interest Update

Atlantic American Co. (NASDAQ:AAME) saw a large decline in short interest during the month of 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. Based on an average trading volume of 4,700 shares, the short-interest ratio is currently 8.9 days. Approximately 1.1% of the company’s shares are sold short.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the quarter. Atlantic American comprises 0.7% of Biglari Sardar’s portfolio, making the stock its 10th largest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 at the end of the most recent quarter. 5.48% of the stock is owned by hedge funds and other institutional investors.

Atlantic American Stock Performance

AAME stock opened at $1.60 on Wednesday. The firm has a market cap of $32.64 million, a P/E ratio of -4.57 and a beta of 0.46. Atlantic American has a 1 year low of $1.43 and a 1 year high of $3.00. The stock has a 50-day simple moving average of $1.65 and a 200-day simple moving average of $1.65.

Wall Street Analysts Forecast Growth

Separately, StockNews.com initiated coverage on shares of Atlantic American in a research report on Monday. They issued a “hold” rating on the stock.

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.