Atlantic American (NASDAQ:AAME) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Atlantic American Co. (NASDAQ:AAME) shares passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.59 and traded as high as $1.64. Atlantic American shares last traded at $1.57, with a volume of 1,311 shares traded.

Wall Street Analyst Weigh In

Separately, StockNews.com initiated coverage on shares of Atlantic American in a report on Saturday. They issued a “hold” rating for the company.

Atlantic American Price Performance

The company has a market capitalization of $32.03 million, a price-to-earnings ratio of -4.49 and a beta of 0.47. The firm’s fifty day simple moving average is $1.56 and its 200 day simple moving average is $1.59.

Institutional Trading of Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar increased its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American makes up approximately 0.7% of Biglari Sardar’s portfolio, making the stock its 10th largest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. Institutional investors and hedge funds own 5.48% of the company’s stock.

Atlantic American Company Profile

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.