Atlantic American (NASDAQ:AAME) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a report published on Friday. The firm issued a hold rating on the financial services provider’s stock.

Atlantic American Stock Performance

Shares of AAME opened at $1.60 on Friday. The firm has a market capitalization of $32.64 million, a price-to-earnings ratio of -4.57 and a beta of 0.47. The business’s fifty day moving average price is $1.55 and its two-hundred day moving average price is $1.59. Atlantic American has a 52 week low of $1.26 and a 52 week high of $3.00.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar raised its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent 13F filing with the SEC. The fund owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the period. Atlantic American comprises approximately 0.7% of Biglari Sardar’s holdings, 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. 5.48% of the stock is 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.