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

Shares of Atlantic American Co. (NASDAQ:AAME) crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.59 and traded as low as $1.48. Atlantic American shares last traded at $1.49, with a volume of 1,012 shares traded.

Analysts Set New Price Targets

Separately, StockNews.com initiated coverage on shares of Atlantic American in a report on Tuesday. They issued a “hold” rating on the stock.

Atlantic American Stock Performance

The company’s fifty day simple moving average is $1.54 and its two-hundred day simple moving average is $1.59. The stock has a market capitalization of $30.40 million, a P/E ratio of -4.26 and a beta of 0.45.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar raised its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). 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 accounts for 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest holding. 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 currently 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.