Atlantic American (NASDAQ:AAME) Coverage Initiated by Analysts at StockNews.com

StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a research report released on Monday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Atlantic American Stock Performance

NASDAQ AAME opened at $1.45 on Monday. The stock’s 50 day moving average is $1.56 and its two-hundred day moving average is $1.59. The company has a market capitalization of $29.58 million, a price-to-earnings ratio of -4.14 and a beta of 0.58. Atlantic American has a 1-year low of $1.26 and a 1-year high of $2.95.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar raised its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American accounts for 0.7% of Biglari Sardar’s portfolio, making the stock its 10th largest holding. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. 5.48% of the stock is owned by institutional investors and hedge funds.

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.