Short Interest in Atlantic American Corporation (NASDAQ:AAME) Increases By 26.5%

Key Points

• Short interest in Atlantic American (AAME) rose by 26.5% in March to 5,625 shares, equal to about 0.1% of the float and a short-interest ratio of 0.5 days.
• Shares opened at $2.61, trade in a 52-week range of $1.30–$3.71, and the company has a market cap of $53.24 million with a P/E of 11.86.
• Hedge funds including Citadel Advisors and Teton Advisors initiated positions while Geode increased its stake; institutions own 5.54% of the stock and the consensus analyst rating is Hold.

Atlantic American Corporation (NASDAQ:AAME - Get Free Report) was the target of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 5,625 shares, an increase of 26.5% from the March 15th total of 4,447 shares. Based on an average daily volume of 11,427 shares, the short-interest ratio is presently 0.5 days. Approximately 0.1% of the company's shares are sold short.

Atlantic American Price Performance

Shares of AAME stock opened at $2.61 on Thursday. Atlantic American has a fifty-two week low of $1.30 and a fifty-two week high of $3.71. The stock's 50-day moving average is $2.58 and its two-hundred day moving average is $2.70. The firm has a market cap of $53.24 million, a P/E ratio of 11.86 and a beta of 0.79.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in AAME. Citadel Advisors LLC acquired a new position in shares of Atlantic American during the 3rd quarter valued at about $81,000. Teton Advisors LLC acquired a new position in shares of Atlantic American during the 3rd quarter valued at about $55,000. Finally, Geode Capital Management LLC increased its holdings in shares of Atlantic American by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider's stock valued at $131,000 after acquiring an additional 4,368 shares during the last quarter. Institutional investors and hedge funds own 5.54% of the company's stock.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reissued a "hold (c-)" rating on shares of Atlantic American in a research report on Wednesday, December 24th. One research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock presently has a consensus rating of "Hold".

Atlantic American Company Profile

Atlantic American Corporation is a Florida-based holding company that engages in the insurance business through its wholly owned subsidiaries. The company's operations are organized into four principal segments: Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, and Risk Retention Group. Through these lines of business, Atlantic American provides a range of insurance products and services to individuals, businesses and affinity groups across the United States.

In its Life Insurance segment, Atlantic American offers traditional whole life and universal life policies, emphasizing guaranteed death benefits and cash value accumulation.

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