Short Interest in Atlantic American Co. (NASDAQ:AAME) Rises By 230.9%

Atlantic American Co. (NASDAQ:AAME) was the target of a large growth in short interest during 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. Based on an average daily volume of 6,900 shares, the short-interest ratio is currently 6.5 days. Currently, 1.2% of the company’s shares are sold short.

Atlantic American Stock Performance

Shares of NASDAQ AAME opened at $1.90 on Friday. Atlantic American has a 52-week low of $1.49 and a 52-week high of $3.00. The stock has a market cap of $38.76 million, a P/E ratio of -63.31 and a beta of 0.32. The firm has a 50 day moving average price of $2.48 and a 200 day moving average price of $2.25.

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

Atlantic American Announces Dividend

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

Analysts Set New Price Targets

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

Institutional Investors 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 Atlantic American Co. (NASDAQ:AAME) in the 4th quarter, according to its most recent filing with the SEC. The fund acquired 13,101 shares of the financial services provider’s stock, valued at approximately $32,000. Independent Advisor Alliance owned 0.06% of Atlantic American as of its most recent filing with the SEC. Institutional investors and hedge funds own 5.48% of the company’s stock.

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