Atlantic American (NASDAQ:AAME) Stock Passes Below 200-Day Moving Average – Here’s Why

Atlantic American Co. (NASDAQ:AAME)’s stock price crossed below its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $1.59 and traded as low as $1.48. Atlantic American shares last traded at $1.49, with a volume of 1,012 shares trading hands.

Analyst Upgrades and Downgrades

Separately, StockNews.com initiated coverage on shares of Atlantic American in a report on Tuesday. They issued a “hold” rating on the stock.

Atlantic American Trading Up 0.3 %

The company has a market capitalization of $30.80 million, a price-to-earnings ratio of -4.31 and a beta of 0.45. The company has a 50-day moving average of $1.53 and a 200-day moving average of $1.59.

Atlantic American (NASDAQ:AAME) last announced its quarterly earnings data on Tuesday, November 12th. The financial services provider reported ($0.04) EPS for the quarter. The company had revenue of $44.52 million during the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar raised its holdings in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% in the 3rd 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 makes up about 0.7% of Biglari Sardar’s portfolio, making the stock its 10th biggest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 as of its most recent SEC filing. 5.48% of the stock is owned by institutional investors.

Atlantic American Company Profile

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.