Atlantic American (NASDAQ:AAME) Share Price Crosses Above 200-Day Moving Average – Here’s Why

Atlantic American Co. (NASDAQ:AAME)’s share price crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $1.59 and traded as high as $1.70. Atlantic American shares last traded at $1.62, with a volume of 872 shares traded.

Analyst Ratings Changes

Separately, StockNews.com assumed coverage on shares of Atlantic American in a research note on Friday. They issued a “hold” rating for the company.

Atlantic American Stock Performance

The company has a market cap of $32.64 million, a price-to-earnings ratio of -4.57 and a beta of 0.47. The company has a 50-day simple moving average of $1.55 and a 200-day simple moving average of $1.59.

Atlantic American (NASDAQ:AAME) last posted its quarterly earnings results on Tuesday, November 12th. The financial services provider reported ($0.04) earnings per share for the quarter. The business 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%.

Institutional Trading of Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Biglari Sardar lifted its position in shares of Atlantic American Co. (NASDAQ:AAME) by 17.9% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 188,393 shares of the financial services provider’s stock after acquiring an additional 28,633 shares during the quarter. Atlantic American accounts for about 0.7% of Biglari Sardar’s holdings, making the stock its 10th biggest position. Biglari Sardar owned about 0.92% of Atlantic American worth $320,000 at the end of the most recent reporting period. 5.48% of the stock is owned by institutional investors and hedge funds.

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.