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

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 Stock Performance

AAME stock opened at $1.58 on Tuesday. The stock’s 50 day simple moving average is $1.64 and its 200 day simple moving average is $1.65. The company has a market cap of $32.23 million, a P/E ratio of -4.51 and a beta of 0.46. Atlantic American has a fifty-two week low of $1.26 and a fifty-two week high of $3.00.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar lifted its position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor 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 about 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. 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.

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.