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

StockNews.com began coverage on shares of Atlantic American (NASDAQ:AAME) in a research report sent to investors on Friday. The firm issued a hold rating on the financial services provider’s stock.

Atlantic American Trading Up 2.6 %

Shares of AAME stock opened at $1.60 on Friday. The business’s fifty day simple moving average is $1.59 and its 200-day simple moving average is $1.97. Atlantic American has a 12-month low of $1.49 and a 12-month high of $3.00. The company has a market cap of $32.64 million, a PE ratio of -31.99 and a beta of 0.42.

Institutional Investors Weigh In On Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. Independent Advisor Alliance bought a new position in Atlantic American Co. (NASDAQ:AAME) during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm bought 13,101 shares of the financial services provider’s stock, valued at approximately $32,000. Independent Advisor Alliance owned approximately 0.06% of Atlantic American at the end of the most recent reporting period. Institutional investors own 5.48% of the company’s stock.

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.