Atlantic American (NASDAQ:AAME) Coverage Initiated at StockNews.com

Investment analysts at StockNews.com started coverage on shares of Atlantic American (NASDAQ:AAME) in a research note issued on Tuesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Stock Performance

AAME opened at $1.56 on Tuesday. Atlantic American has a one year low of $1.26 and a one year high of $3.00. The stock’s fifty day moving average is $1.64 and its 200-day moving average is $1.64. The company has a market capitalization of $31.82 million, a PE ratio of -4.46 and a beta of 0.46.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar increased its holdings in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 188,393 shares of the financial services provider’s stock after buying an additional 28,633 shares during the quarter. 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 quarter. 5.48% of the stock is currently 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.