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

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

Atlantic American Stock Performance

Shares of AAME opened at $1.40 on Tuesday. The stock has a 50 day moving average price of $1.55 and a 200 day moving average price of $1.58. The stock has a market capitalization of $28.56 million, a price-to-earnings ratio of -4.00 and a beta of 0.58. Atlantic American has a one year low of $1.26 and a one year high of $2.88.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the period. Atlantic American makes up approximately 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. Institutional investors own 5.48% of the company’s stock.

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.