StockNews.com Initiates Coverage on Atlantic American (NASDAQ:AAME)

Equities researchers at StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a report issued on Saturday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Price Performance

Shares of AAME stock opened at $1.48 on Friday. The stock’s fifty day simple moving average is $1.59 and its 200 day simple moving average is $1.61. Atlantic American has a one year low of $1.26 and a one year high of $3.00. The firm has a market cap of $30.28 million, a price-to-earnings ratio of -4.24 and a beta of 0.47.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar lifted its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American makes up approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest holding. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 at the end of the most recent quarter. 5.48% of the stock is owned by hedge funds and other institutional investors.

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.