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

StockNews.com began coverage on shares of Atlantic American (NASDAQ:AAME) in a report released on Friday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Performance

Atlantic American stock opened at $1.48 on Friday. The firm has a 50 day moving average price of $1.60 and a two-hundred day moving average price of $1.62. Atlantic American has a 52-week low of $1.26 and a 52-week high of $3.00. The firm has a market cap of $30.19 million, a price-to-earnings ratio of -4.23 and a beta of 0.47.

Institutional Trading of Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar lifted its holdings in Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor 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 portfolio, 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 quarter. 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.