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

StockNews.com started coverage on shares of Atlantic American (NASDAQ:AAME) in a research note released on Tuesday. The firm issued a hold rating on the financial services provider’s stock.

Atlantic American Stock Performance

Shares of AAME stock opened at $1.52 on Tuesday. The firm’s 50 day moving average price is $1.64 and its two-hundred day moving average price is $1.64. Atlantic American has a 52-week low of $1.26 and a 52-week high of $3.00. The stock has a market cap of $31.01 million, a PE ratio of -4.34 and a beta of 0.46.

Institutional Investors 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 third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American accounts for 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 5.48% of the stock is owned by institutional investors and hedge funds.

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.