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

Atlantic American Co. (NASDAQ:AAME) was the recipient of a significant growth in short interest in the month of April. As of April 15th, there was short interest totalling 45,000 shares, a growth of 230.9% from the March 31st total of 13,600 shares. Approximately 1.2% of the company’s shares are short sold. Based on an average daily trading volume, of 6,900 shares, the short-interest ratio is presently 6.5 days.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently bought a new position in Atlantic American stock. Independent Advisor Alliance acquired a new stake in shares of Atlantic American Co. (NASDAQ:AAME) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 13,101 shares of the financial services provider’s stock, valued at approximately $32,000. Independent Advisor Alliance owned approximately 0.06% of Atlantic American as of its most recent filing with the Securities & Exchange Commission. 5.48% of the stock is owned by institutional investors.

Atlantic American Stock Performance

Shares of AAME traded down $0.01 during midday trading on Thursday, hitting $1.90. 4,402 shares of the stock traded hands, compared to its average volume of 7,621. Atlantic American has a 1-year low of $1.49 and a 1-year high of $3.00. The business’s 50 day moving average price is $2.49 and its two-hundred day moving average price is $2.25.

Atlantic American (NASDAQ:AAME) last issued its quarterly earnings data on Monday, April 1st. The financial services provider reported ($0.21) earnings per share for the quarter. Atlantic American had a negative net margin of 0.09% and a negative return on equity of 0.31%. The company had revenue of $46.75 million for the quarter.

Atlantic American Dividend Announcement

The business also recently declared an annual dividend, which will be paid on Friday, April 26th. Investors of record on Friday, April 12th will be paid a $0.02 dividend. The ex-dividend date is Thursday, April 11th. This represents a yield of 0.78%. Atlantic American’s dividend payout ratio is currently -66.64%.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Atlantic American in a research note 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.