Short Interest in Atlantic American Co. (NASDAQ:AAME) Drops By 94.6%

Atlantic American Co. (NASDAQ:AAME) was the recipient of a significant decline in short interest during the month of March. As of March 15th, there was short interest totalling 2,300 shares, a decline of 94.6% from the February 28th total of 42,800 shares. Approximately 0.1% of the shares of the stock are sold short. Based on an average daily trading volume, of 5,600 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar boosted its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to the company in its most recent filing with the SEC. 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 approximately 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th biggest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. 5.48% of the stock is owned by institutional investors.

Atlantic American Price Performance

Atlantic American stock opened at $1.73 on Thursday. Atlantic American has a one year low of $1.25 and a one year high of $2.84. The stock’s 50 day moving average is $1.55 and its 200 day moving average is $1.58. The firm has a market cap of $35.29 million, a P/E ratio of -4.94 and a beta of 0.58.

Atlantic American (NASDAQ:AAME) last announced its earnings results on Tuesday, March 25th. The financial services provider reported ($0.04) EPS for the quarter. The business had revenue of $49.04 million for the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%.

Atlantic American Dividend Announcement

The business also recently disclosed an annual dividend, which will be paid on Wednesday, April 23rd. Stockholders of record on Wednesday, April 9th will be issued a dividend of $0.02 per share. The ex-dividend date of this dividend is Wednesday, April 9th. This represents a dividend yield of 1.1%. Atlantic American’s dividend payout ratio is currently -5.71%.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Atlantic American in a research report on Wednesday. They set 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.