Atlantic American Co. (NASDAQ:AAME) Short Interest Up 5,062.5% in January

Atlantic American Co. (NASDAQ:AAME) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totalling 41,300 shares, a growth of 5,062.5% from the December 31st total of 800 shares. Approximately 1.1% of the shares of the stock are sold short. Based on an average daily volume of 4,700 shares, the days-to-cover ratio is presently 8.8 days.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar lifted its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund 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 position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.48% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Atlantic American in a report on Tuesday, January 21st. They issued a “hold” rating on the stock.

Atlantic American Stock Down 2.7 %

Atlantic American stock traded down $0.05 during midday trading on Tuesday, reaching $1.61. 5,253 shares of the stock traded hands, compared to its average volume of 6,354. The stock has a market cap of $32.74 million, a P/E ratio of -4.59 and a beta of 0.45. Atlantic American has a 12 month low of $1.26 and a 12 month high of $3.00. The stock’s fifty day moving average is $1.52 and its 200-day moving average is $1.59.

Atlantic American (NASDAQ:AAME) last released its quarterly earnings results on Tuesday, November 12th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%. The business had revenue of $44.52 million for the quarter.

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.