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

Analysts at StockNews.com initiated coverage on shares of Atlantic American (NASDAQ:AAME) in a note issued to investors on Friday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Price Performance

AAME opened at $1.51 on Friday. The company has a market capitalization of $30.80 million, a P/E ratio of -4.31 and a beta of 0.47. The firm’s fifty day moving average price is $1.60 and its two-hundred day moving average price is $1.62. Atlantic American has a fifty-two week low of $1.26 and a fifty-two week high of $3.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar increased 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 and Exchange Commission (SEC). The firm owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the quarter. Atlantic American accounts for about 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest position. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 5.48% of the stock is owned by 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.