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

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

Atlantic American Stock Performance

Shares of NASDAQ:AAME opened at $1.46 on Friday. The stock’s 50-day moving average is $1.57 and its 200-day moving average is $1.60. The company has a market cap of $29.78 million, a P/E ratio of -4.17 and a beta of 0.45. Atlantic American has a 52-week low of $1.26 and a 52-week high of $3.00.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar raised 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 firm owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the period. Atlantic American makes up approximately 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 SEC filing. 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.