Significant Decline in Short Interest at Atlantic American Co. (NASDAQ:AAME)

Atlantic American Co. (NASDAQ:AAME) experienced a remarkable decline in short interest throughout December. By December 15th, the total short interest dropped to 800 shares, representing a significant fall of 98.0% from the November 30th figure of 41,000 shares. This indicates that nearly none of the company's shares are currently sold short, with only about 0.0% of total shares affected. Given the average daily trading volume of 5,000 shares, the short-interest ratio stands at 0.2 days, suggesting a low shorting activity.

Performance of Atlantic American Stock

On Friday, Atlantic American stock opened at $1.48. The stock has seen a fifty-two week low of $1.26, while its fifty-two week high reached $3.00. The company boasts a market capitalization of $30.28 million, along with a price-to-earnings ratio of -4.24 and a beta of 0.47. Its 50-day simple moving average is $1.59, and the 200-day simple moving average is $1.61, indicating its relatively stable position in the market.

Hedge Fund Activity Related to Atlantic American

In recent developments, a hedge fund has increased its stake in Atlantic American. Biglari Sardar raised its holdings by 17.9% during the third quarter, as per the latest filings with the Securities and Exchange Commission. Following this increase, the hedge fund now holds 188,393 shares of Atlantic American, after acquiring an additional 28,633 shares during that quarter. Atlantic American constitutes approximately 0.7% of Biglari Sardar's total holdings, ranking as their 10th largest investment, valued at around $320,000 at the end of the most recent quarter. Currently, hedge funds and other institutional investors own about 5.48% of the company’s stock.

Analyst Ratings and Price Targets

In addition, StockNews.com has recently commenced coverage on Atlantic American, issuing a research note that includes a “hold” rating for the company, which reflects their cautious outlook on the stock.

About Atlantic American Corporation

Atlantic American Corporation, through its subsidiaries, offers a range of life and health, as well as property and casualty insurance products in the United States. The company operates under two primary segments: American Southern and Bankers Fidelity. Atlantic American provides various property and casualty products, including commercial automobile insurance for state governments, local municipalities, and other motor pools and fleets, alongside general liability and inland marine insurance products.

Stocks, Interest, Insurance