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 note issued to investors on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Performance

Shares of AAME stock opened at $1.53 on Thursday. Atlantic American has a fifty-two week low of $1.26 and a fifty-two week high of $3.00. The stock has a 50 day simple moving average of $1.62 and a two-hundred day simple moving average of $1.63.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar grew its stake in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the period. Atlantic American makes up 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th biggest holding. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission. 5.48% of the stock is currently owned by hedge funds and other institutional investors.

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.