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

Equities research analysts at StockNews.com initiated coverage on shares of Atlantic American (NASDAQ:AAME) in a report released on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Price Performance

AAME stock opened at $1.51 on Tuesday. The business has a 50-day moving average price of $1.56 and a 200 day moving average price of $1.59. The company has a market capitalization of $30.80 million, a P/E ratio of -4.31 and a beta of 0.58. Atlantic American has a 1-year low of $1.26 and a 1-year high of $2.88.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar raised its stake in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 investment portfolio, making the stock its 10th largest holding. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. 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.