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

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

Atlantic American Stock Performance

NASDAQ:AAME opened at $1.75 on Wednesday. The firm’s 50-day moving average is $1.56 and its 200-day moving average is $1.58. The company has a market cap of $35.70 million, a price-to-earnings ratio of -5.00 and a beta of 0.58. Atlantic American has a 52-week low of $1.25 and a 52-week high of $2.84.

Atlantic American (NASDAQ:AAME) last issued its quarterly earnings results on Tuesday, March 25th. The financial services provider reported ($0.04) earnings per share (EPS) for the quarter. Atlantic American had a negative net margin of 3.72% and a negative return on equity of 8.17%. The firm had revenue of $49.04 million for the quarter.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Biglari Sardar raised its stake in Atlantic American Co. (NASDAQ:AAME) by 17.9% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 comprises about 0.7% of Biglari Sardar’s investment portfolio, making the stock its 10th largest position. Biglari Sardar owned 0.92% of Atlantic American worth $320,000 as of its most recent filing with the Securities and Exchange Commission (SEC). 5.48% of the stock is currently 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.