Atlantic American (NASDAQ:AAME) Now Covered by Analysts at StockNews.com

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

Atlantic American Trading Down 2.6 %

Shares of NASDAQ:AAME opened at $1.48 on Wednesday. The stock’s 50-day moving average price is $1.64 and its 200-day moving average price is $1.64. The stock has a market capitalization of $30.19 million, a P/E ratio of -4.23 and a beta of 0.47. Atlantic American has a 12-month low of $1.26 and a 12-month high of $3.00.

Institutional Investors Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the period. Atlantic American accounts for approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. 5.48% of the stock is owned by hedge funds and other institutional investors.

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.