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

Atlantic American Co. (NASDAQ:AAME) was the recipient of a significant decline in short interest in 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. Based on an average daily trading volume, of 5,600 shares, the days-to-cover ratio is presently 0.4 days. Approximately 0.1% of the company’s shares are short sold.

Analyst Ratings Changes

Separately, StockNews.com initiated coverage on Atlantic American in a report on Wednesday. They issued a “hold” rating on the stock.

Atlantic American Stock Performance

NASDAQ AAME traded down $0.05 during trading on Wednesday, hitting $1.73. 20,277 shares of the company’s stock traded hands, compared to its average volume of 5,390. The stock has a market capitalization of $35.29 million, a price-to-earnings ratio of -4.94 and a beta of 0.58. The business has a 50 day moving average of $1.55 and a 200-day moving average of $1.58. Atlantic American has a 12-month low of $1.25 and a 12-month high of $2.84.

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

Atlantic American Announces Dividend

The firm also recently disclosed an annual dividend, which will be paid on Wednesday, April 23rd. Shareholders of record on Wednesday, April 9th will be issued a $0.02 dividend. This represents a yield of 1.1%. The ex-dividend date of this dividend is Wednesday, April 9th. Atlantic American’s dividend payout ratio (DPR) is presently -5.71%.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar boosted its position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the period. Atlantic American makes up about 0.7% of Biglari Sardar’s portfolio, making the stock its 10th biggest holding. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. Institutional investors own 5.48% of the company’s 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.