Short Interest in Atlantic American Co. (NASDAQ:AAME) Drops By 78.8%

Atlantic American Co. (NASDAQ:AAMEGet Rating) was the recipient of a large decrease in short interest in May. As of May 15th, there was short interest totalling 15,400 shares, a decrease of 78.8% from the April 30th total of 72,700 shares. Approximately 0.4% of the company’s stock are sold short. Based on an average trading volume of 8,600 shares, the short-interest ratio is presently 1.8 days.

Shares of Atlantic American stock traded down $0.06 during trading hours on Wednesday, reaching $2.65. 7,854 shares of the stock traded hands, compared to its average volume of 12,055. The company has a 50 day moving average price of $3.01 and a 200 day moving average price of $3.04. The firm has a market capitalization of $54.07 million, a price-to-earnings ratio of 7.79 and a beta of 0.17. Atlantic American has a one year low of $2.12 and a one year high of $5.70.

Atlantic American (NASDAQ:AAMEGet Rating) last announced its quarterly earnings data on Friday, March 25th. The financial services provider reported $0.12 earnings per share (EPS) for the quarter. The company had revenue of $49.73 million during the quarter. Atlantic American had a return on equity of 2.16% and a net margin of 3.74%.

The firm also recently declared an annual dividend, which was paid on Wednesday, April 27th. Investors of record on Wednesday, April 13th were issued a $0.02 dividend. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a yield of 0.7%. Atlantic American’s dividend payout ratio is presently 5.88%.

Separately, initiated coverage on Atlantic American in a research report on Saturday. They set a “hold” rating for the company.

In other news, insider Harriett J. Robinson bought 1,363,809 shares of the firm’s stock in a transaction dated Thursday, March 31st. The stock was purchased at an average price of $4.00 per share, with a total value of $5,455,236.00. Following the transaction, the insider now owns 830,259 shares of the company’s stock, valued at $3,321,036. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 80.01% of the stock is currently owned by corporate insiders.

An institutional investor recently bought a new position in Atlantic American stock. HB Wealth Management LLC purchased a new position in Atlantic American Co. (NASDAQ:AAMEGet Rating) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 10,000 shares of the financial services provider’s stock, valued at approximately $25,000. 5.43% of the stock is owned by hedge funds and other institutional investors.

Atlantic American Company Profile (Get Rating)

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. The company operates through American Southern and Bankers Fidelity segments. It 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.

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