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

Stock analysts at StockNews.com initiated coverage on shares of Atlantic American (NASDAQ:AAME) in a report issued on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Performance

NASDAQ AAME opened at $1.48 on Wednesday. The company has a market cap of $30.19 million, a PE ratio of -4.23 and a beta of 0.47. Atlantic American has a 52-week low of $1.26 and a 52-week high of $3.00. The firm’s 50 day moving average price is $1.64 and its 200-day moving average price is $1.64.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar grew its stake 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 firm owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American makes up 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities & Exchange Commission. 5.48% of the stock is currently owned by institutional investors and hedge funds.

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.