Atlantic American Co. (NASDAQ:AAME) Sees Large Growth in Short Interest

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

Atlantic American Trading Up 3.0 %

AAME stock opened at $1.53 on Tuesday. The stock has a market capitalization of $31.21 million, a PE ratio of -4.37 and a beta of 0.45. The stock’s 50 day simple moving average is $1.55 and its 200 day simple moving average is $1.59. Atlantic American has a 12-month low of $1.26 and a 12-month high of $3.00.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the period. Atlantic American makes up approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. 5.48% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Separately, StockNews.com began coverage on shares of Atlantic American in a report on Monday. 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.