Short Interest in Atlantic American Co. (NASDAQ:AAME) Declines By 98.0%

Atlantic American Co. (NASDAQ:AAME) saw a large drop in short interest in the month of December. As of December 15th, there was short interest totalling 800 shares, a drop of 98.0% from the November 30th total of 41,000 shares. Approximately 0.0% of the company’s shares are sold short. Based on an average daily trading volume, of 5,000 shares, the short-interest ratio is currently 0.2 days.

Atlantic American Price Performance

Atlantic American stock opened at $1.48 on Friday. Atlantic American has a fifty-two week low of $1.26 and a fifty-two week high of $3.00. The firm has a market capitalization of $30.28 million, a price-to-earnings ratio of -4.24 and a beta of 0.47. The company’s 50 day simple moving average is $1.59 and its 200 day simple moving average is $1.61.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar increased its holdings in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the quarter. Atlantic American accounts for approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 at the end of the most recent quarter. 5.48% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Atlantic American in a research note on Friday, December 20th. They set 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.