Atlantic American (NASDAQ:AAME) Now Covered by StockNews.com

StockNews.com began coverage on shares of Atlantic American (NASDAQ:AAME) in a research note published on Saturday morning. The brokerage issued a hold rating on the financial services provider’s stock.

Atlantic American Trading Down 0.6 %

Shares of AAME opened at $1.57 on Friday. The business’s 50 day moving average is $1.56 and its 200 day moving average is $1.59. Atlantic American has a 12-month low of $1.26 and a 12-month high of $3.00. The company has a market capitalization of $32.03 million, a PE ratio of -4.49 and a beta of 0.47.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar boosted its stake in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American comprises approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities & 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.