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

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

Atlantic American Price Performance

Shares of AAME opened at $1.54 on Monday. Atlantic American has a 1-year low of $1.26 and a 1-year high of $3.00. The company has a market capitalization of $31.42 million, a P/E ratio of -4.40 and a beta of 0.45. The firm’s 50 day simple moving average is $1.55 and its 200 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 position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the period. Atlantic American comprises about 0.7% of Biglari Sardar’s holdings, making the stock its 10th largest holding. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. Hedge funds and other institutional investors 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.