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

Atlantic American Co. (NASDAQ:AAME) saw a significant 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 trading volume of 6,900 shares, the days-to-cover ratio is presently 6.5 days. Currently, 1.2% of the company’s shares are short sold.

Atlantic American Price Performance

Shares of NASDAQ AAME traded down $0.01 during mid-day trading on Thursday, hitting $1.90. The company had a trading volume of 4,402 shares, 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 stock’s 50-day moving average price is $2.49 and its 200-day moving average price is $2.25.

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

Atlantic American Dividend Announcement

The company 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 dividend yield of 0.78%. Atlantic American’s dividend payout ratio (DPR) is -66.64%.

Wall Street Analysts Forecast Growth

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

Institutional Trading of Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. Investors Asset Management of Georgia Inc. GA ADV bought a new stake in shares of Atlantic American Co. (NASDAQ:AAME) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm bought 18,000 shares of the financial services provider’s stock, valued at approximately $43,000. Investors Asset Management of Georgia Inc. GA ADV owned about 0.09% of Atlantic American at the end of the most recent quarter. Institutional investors 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.