Atlantic American (NASDAQ:AAME) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Atlantic American Co. (NASDAQ:AAME)’s stock price 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 initiated coverage on shares of Atlantic American in a research note on Tuesday. They set a “hold” rating on the stock.

Atlantic American Trading Down 1.4 %

The firm has a market capitalization of $28.56 million, a price-to-earnings ratio of -4.00 and a beta of 0.58. The stock’s 50 day moving average price is $1.55 and its two-hundred day moving average price is $1.59.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its stake in Atlantic American stock. Biglari Sardar boosted its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund 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 about 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest 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 currently owned by institutional investors.

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.