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

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 firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Trading Down 4.7 %

Shares of NASDAQ AAME opened at $1.41 on Monday. The stock has a market cap of $28.76 million, a price-to-earnings ratio of -4.03 and a beta of 0.58. Atlantic American has a 1-year low of $1.26 and a 1-year high of $3.00. The stock’s 50-day moving average is $1.56 and its 200 day moving average is $1.59.

Hedge Funds Weigh In On 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% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC). Hedge funds and other institutional investors 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.