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

Stock analysts at StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a report released on Thursday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Performance

Shares of NASDAQ:AAME opened at $1.48 on Thursday. Atlantic American has a 52-week low of $1.26 and a 52-week high of $3.00. The stock’s 50-day simple moving average is $1.62 and its two-hundred day simple moving average is $1.63. The stock has a market capitalization of $30.19 million, a price-to-earnings ratio of -4.23 and a beta of 0.47.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar increased its position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent 13F 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 accounts for 0.7% of Biglari Sardar’s 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 quarter. 5.48% of the stock is owned by 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.