Short Interest in Atlantic American Co. (NASDAQ:AAME) Drops By 18.6%

Atlantic American Co. (NASDAQ:AAME) saw a significant decline in short interest in March. As of March 31st, there was short interest totalling 13,600 shares, a decline of 18.6% from the March 15th total of 16,700 shares. Currently, 0.4% of the shares of the company are short sold. Based on an average daily volume of 7,500 shares, the short-interest ratio is presently 1.8 days.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on Atlantic American in a research report on Monday, April 8th. They set a “hold” rating on the stock.

Atlantic American Stock Down 6.3 %

Shares of Atlantic American stock opened at $2.09 on Friday. The stock’s 50-day simple moving average is $2.58 and its 200-day simple moving average is $2.25. Atlantic American has a 52 week low of $1.49 and a 52 week high of $3.00. The company has a market capitalization of $42.64 million, a price-to-earnings ratio of -69.64 and a beta of 0.32.

Atlantic American Dividend Announcement

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

Institutional Investors Weigh In On Atlantic American

Large investors have recently made changes to their positions in the company. Independent Advisor Alliance bought a new stake in shares of Atlantic American in the fourth quarter worth about $32,000. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of Atlantic American in the fourth quarter worth about $43,000. Finally, BlackRock Inc. increased its holdings in shares of Atlantic American by 62.1% in the second quarter. BlackRock Inc. now owns 44,945 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 17,212 shares during the last quarter. 5.48% of the stock is owned by institutional investors.

About Atlantic American

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 business automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; and inland marine and general liability insurance products.