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

Analysts at StockNews.com started coverage on shares of Atlantic American (NASDAQ:AAME) in a research report issued to clients and investors on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Price Performance

NASDAQ:AAME opened at $1.60 on Monday. The firm’s 50-day moving average price is $1.65 and its 200-day moving average price is $1.65. The company has a market capitalization of $32.64 million, a PE ratio of -4.57 and a beta of 0.46. Atlantic American has a 1-year low of $1.43 and a 1-year high of $3.00.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar boosted its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the period. Atlantic American makes up about 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities & Exchange Commission. 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.