Atlantic American (NASDAQ:AAME) Stock Crosses Above Two Hundred Day Moving Average – Here’s What Happened

Atlantic American Co. (NASDAQ:AAME) passed above its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.59 and traded as high as $1.64. Atlantic American shares last traded at $1.57, with a volume of 1,311 shares trading hands.

Wall Street Analyst Weigh In

Separately, StockNews.com assumed coverage on shares of Atlantic American in a research note on Saturday. They issued a “hold” rating for the company.

Atlantic American Stock Down 0.6 %

The company has a market cap of $32.03 million, a P/E ratio of -4.49 and a beta of 0.47. The stock’s 50-day moving average price is $1.56 and its 200 day moving average price is $1.59.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar grew its position in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 188,393 shares of the financial services provider’s stock after purchasing an additional 28,633 shares during the quarter. Atlantic American makes up approximately 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 as of its most recent filing with the Securities & Exchange Commission. 5.48% of the stock is currently owned by hedge funds and other institutional investors.

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.