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

StockNews.com started coverage on shares of Atlantic American (NASDAQ:AAME) in a research note issued on Monday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Trading Down 7.1 %

AAME opened at $1.45 on Monday. Atlantic American has a 1-year low of $1.26 and a 1-year high of $2.95. The company has a market capitalization of $29.58 million, a PE ratio of -4.14 and a beta of 0.58. The firm’s 50 day simple moving average is $1.56 and its two-hundred day simple moving average is $1.59.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar grew its holdings in 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 acquiring an additional 28,633 shares during the period. Atlantic American accounts for 0.7% of Biglari Sardar’s portfolio, making the stock its 10th largest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. Hedge funds and other 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.