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

Research analysts at StockNews.com began coverage on shares of Atlantic American (NASDAQ:AAME) in a research note issued to investors on Sunday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Performance

Atlantic American stock opened at $1.50 on Friday. The firm has a market capitalization of $30.60 million, a P/E ratio of -4.29 and a beta of 0.45. The company has a 50-day simple moving average of $1.57 and a 200-day simple moving average of $1.60. Atlantic American has a one year low of $1.26 and a one year high of $3.00.

Institutional Trading of Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar grew its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent filing with the Securities and 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 quarter. Atlantic American comprises 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission. Hedge funds and other institutional investors own 5.48% of the company’s stock.

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.