Atlantic American (NASDAQ:AAME) Shares Pass Below Two Hundred Day Moving Average – What’s Next?

Atlantic American Corporation (NASDAQ:AAME) passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.39 and traded as low as $1.60. Atlantic American shares last traded at $1.60, with a volume of 34,574 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat.com, Atlantic American presently has a consensus rating of “Sell”.

Atlantic American Price Performance

The company has a market capitalization of $32.23 million, a price-to-earnings ratio of 7.18 and a beta of 0.76. The business’s 50-day moving average price is $1.89 and its two-hundred day moving average price is $2.38.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its position in Atlantic American stock. Geode Capital Management LLC raised its position in Atlantic American Corporation (NASDAQ:AAME) by 10.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,273 shares of the financial services provider’s stock after buying an additional 4,368 shares during the quarter. Geode Capital Management LLC owned about 0.23% of Atlantic American worth $131,000 at the end of the most recent quarter. Hedge funds and other institutional investors own 5.54% of the company’s stock.

Atlantic American Company Profile

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.