Atlantic American (NASDAQ:AAME) Stock Price Passes Below Two Hundred Day Moving Average – Should You Sell?

Atlantic American Co. (NASDAQ:AAME)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.59 and traded as low as $1.40. Atlantic American shares last traded at $1.51, with a volume of 8,957 shares.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on Atlantic American in a research note on Tuesday. They set a “hold” rating for the company.

Atlantic American Stock Up 5.6 %

The firm has a fifty day moving average price of $1.56 and a 200 day moving average price of $1.59. The company has a market cap of $30.80 million, a P/E ratio of -4.31 and a beta of 0.58.

Institutional Trading of Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar boosted its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the period. Atlantic American accounts for 0.7% of Biglari Sardar’s portfolio, making the stock its 10th largest position. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.