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

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

Atlantic American Price Performance

Shares of NASDAQ AAME opened at $1.60 on Friday. The stock has a market capitalization of $32.64 million, a price-to-earnings ratio of -4.57 and a beta of 0.47. The business has a 50-day moving average of $1.55 and a 200-day moving average of $1.59. Atlantic American has a fifty-two week low of $1.26 and a fifty-two week high of $3.00.

Atlantic American (NASDAQ:AAME) last announced its quarterly earnings data on Tuesday, November 12th. The financial services provider reported ($0.04) earnings per share for the quarter. The company had revenue of $44.52 million during the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar grew its stake in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor 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 approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. Institutional investors and hedge funds 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.