Atlantic American Co. (NASDAQ:AAME – Get Rating) was the target of a large increase in short interest during the month of May. As of May 31st, there was short interest totalling 69,200 shares, an increase of 349.4% from the May 15th total of 15,400 shares. Currently, 1.9% of the shares of the company are short sold. Based on an average daily trading volume, of 9,200 shares, the days-to-cover ratio is currently 7.5 days.
In other Atlantic American news, insider Harriett J. Robinson bought 1,363,809 shares of the firm’s stock in a transaction on Thursday, March 31st. The stock was acquired 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 in the company, valued at $3,321,036. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. 80.01% of the stock is currently owned by insiders.
An institutional investor recently bought a new position in Atlantic American stock. HB Wealth Management LLC acquired a new stake in shares of Atlantic American Co. (NASDAQ:AAME – Get Rating) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund acquired 10,000 shares of the financial services provider’s stock, valued at approximately $25,000. Institutional investors and hedge funds own 5.43% of the company’s stock.
Atlantic American stock opened at $3.03 on Friday. The business has a 50-day simple moving average of $3.05 and a two-hundred day simple moving average of $2.94. The company has a market cap of $61.82 million, a P/E ratio of 8.91 and a beta of 0.17. Atlantic American has a 52-week low of $2.12 and a 52-week high of $5.70.
Atlantic American (NASDAQ:AAME – Get Rating) last released its quarterly earnings results on Wednesday, May 11th. The financial services provider reported $0.07 earnings per share (EPS) for the quarter. The business had revenue of $51.61 million during the quarter. Atlantic American had a return on equity of 2.16% and a net margin of 3.74%.
The business also recently disclosed an annual dividend, which was paid on Wednesday, April 27th. Investors of record on Wednesday, April 13th were paid a dividend of $0.02 per share. The ex-dividend date of this dividend was Tuesday, April 12th. This represents a dividend yield of 0.7%. Atlantic American’s dividend payout ratio (DPR) is presently 5.88%.
Separately, StockNews.com assumed coverage on Atlantic American in a research note on Monday, June 6th. They set a “hold” rating for the company.
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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