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

Atlantic American Co. (NASDAQ:AAME) shares passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.59 and traded as low as $1.40. Atlantic American shares last traded at $1.51, with a volume of 8,957 shares traded.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on Atlantic American in a report on Tuesday. They set a “hold” rating on the stock.

Atlantic American Stock Up 5.6 %

The stock has a market cap of $30.80 million, a P/E ratio of -4.31 and a beta of 0.58. The stock has a fifty day simple moving average of $1.56 and a 200-day simple moving average of $1.59.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar lifted its holdings in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 accounts for about 0.7% of Biglari Sardar’s portfolio, making the stock its 10th biggest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. 5.48% of the stock is owned by institutional investors and hedge funds.

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.