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

StockNews.com initiated coverage on shares of Atlantic American (NASDAQ:AAME – Get Rating) in a research note issued to investors on Wednesday. The firm set a “hold” rating on the financial services provider’s stock.

Atlantic American Trading Down 0.4 %

Atlantic American stock opened at $2.15 on Wednesday. Atlantic American has a 12 month low of $2.10 and a 12 month high of $3.49. The stock’s 50 day moving average is $2.33 and its 200-day moving average is $2.49. The company has a market capitalization of $43.80 million, a price-to-earnings ratio of 17.92 and a beta of 0.31.

Institutional Investors 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 – Get Rating) by 65.2% in the first quarter, according to its most recent filing with the SEC. The fund owned 28,249 shares of the financial services provider’s stock after acquiring an additional 11,148 shares during the period. Atlantic American accounts for approximately 0.3% of Biglari Sardar’s investment portfolio, making the stock its 8th biggest position. Biglari Sardar owned 0.14% of Atlantic American worth $69,000 at the end of the most recent reporting period. 5.50% of the stock is owned by hedge funds and other institutional investors.

About Atlantic American

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Atlantic American Corp. is an insurance holding company, which engages in the life, health, and property and casualty insurance industries. It operates through the following segments: American Southern, Bankers Fidelity, and Corporate & Other. The American Southern segment operates in the property and casualty insurance market.