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

StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a research note issued to investors on Tuesday. The firm issued a hold rating on the financial services provider’s stock.

Atlantic American Stock Performance

Shares of AAME stock opened at $1.53 on Tuesday. Atlantic American has a 1 year low of $1.26 and a 1 year high of $3.00. The firm has a market capitalization of $31.21 million, a PE ratio of -4.37 and a beta of 0.46. The stock has a fifty day moving average of $1.64 and a two-hundred day moving average of $1.64.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar lifted its stake in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the period. Atlantic American accounts for approximately 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned approximately 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. 5.48% of the stock is owned by hedge funds and other 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.