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

Analysts at StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a research report issued to clients and investors on Wednesday. The brokerage set a “hold” rating on the financial services provider’s stock.

Atlantic American Trading Down 0.5 %

Shares of Atlantic American stock opened at $1.90 on Wednesday. The company’s fifty day simple moving average is $2.48 and its 200-day simple moving average is $2.25. The company has a market cap of $38.76 million, a price-to-earnings ratio of -63.31 and a beta of 0.32. Atlantic American has a 1 year low of $1.49 and a 1 year high of $3.00.

Atlantic American (NASDAQ:AAME) last announced its quarterly earnings data on Monday, April 1st. The financial services provider reported ($0.21) earnings per share (EPS) for the quarter. The company had revenue of $46.75 million during the quarter. Atlantic American had a negative return on equity of 0.31% and a negative net margin of 0.09%.

Institutional Investors Weigh In On Atlantic American

An institutional investor recently bought a new position in Atlantic American stock. Investors Asset Management of Georgia Inc. GA ADV purchased a new position in shares of Atlantic American Co. (NASDAQ:AAME) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 18,000 shares of the financial services provider’s stock, valued at approximately $43,000. Investors Asset Management of Georgia Inc. GA ADV owned approximately 0.09% of Atlantic American at the end of the most recent reporting period. 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.