Atlantic American (NASDAQ:AAME) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Atlantic American Co. (NASDAQ:AAME)’s stock price crossed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.59 and traded as high as $1.64. Atlantic American shares last traded at $1.57, with a volume of 1,311 shares.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Atlantic American in a research report on Saturday. They set a “hold” rating for the company.

Atlantic American Stock Performance

The firm has a market cap of $32.03 million, a PE ratio of -4.49 and a beta of 0.47. The firm’s 50-day moving average price is $1.56 and its two-hundred day moving average price is $1.59.

Hedge Funds Weigh In On Atlantic American

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 third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the quarter. Atlantic American accounts for 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest holding. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. 5.48% of the stock is 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.