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

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

Atlantic American Stock Performance

Shares of Atlantic American stock opened at $1.67 on Wednesday. Atlantic American has a 52-week low of $1.26 and a 52-week high of $3.00. The stock has a market cap of $33.97 million, a PE ratio of -4.76 and a beta of 0.45. The firm has a 50-day moving average of $1.53 and a 200-day moving average of $1.59.

Atlantic American (NASDAQ:AAME) last announced its earnings results on Tuesday, November 12th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter. Atlantic American had a negative return on equity of 8.17% and a negative net margin of 3.72%. The business had revenue of $44.52 million for the quarter.

Institutional Investors Weigh In On Atlantic American

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