Atlantic American (NASDAQ:AAME) Shares Cross Below 50 Day Moving Average – Here’s What Happened

Atlantic American Corporation (NASDAQ:AAME)’s share price crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.03 and traded as low as $1.66. Atlantic American shares last traded at $1.68, with a volume of 19,354 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Atlantic American Stock Down 1.5%

The company has a market capitalization of $34.07 million, a P/E ratio of 7.59 and a beta of 0.76. The company has a 50-day moving average of $2.00 and a two-hundred day moving average of $2.43.

Institutional Trading of Atlantic American

A hedge fund recently bought a new position in Atlantic American stock. Citadel Advisors LLC bought a new position in Atlantic American Corporation (NASDAQ:AAME) in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund bought 28,224 shares of the financial services provider’s stock, valued at approximately $81,000. Citadel Advisors LLC owned about 0.14% of Atlantic American as of its most recent filing with the SEC. 5.54% of the stock is owned by institutional investors.

About Atlantic American

Atlantic American Corporation is a Florida-based holding company that engages in the insurance business through its wholly owned subsidiaries. The company’s operations are organized into four principal segments: Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, and Risk Retention Group. Through these lines of business, Atlantic American provides a range of insurance products and services to individuals, businesses and affinity groups across the United States.

In its Life Insurance segment, Atlantic American offers traditional whole life and universal life policies, emphasizing guaranteed death benefits and cash value accumulation.