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

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

Atlantic American Stock Performance

Atlantic American stock opened at $1.96 on Tuesday. The firm has a market cap of $39.98 million, a price-to-earnings ratio of -65.31 and a beta of 0.32. Atlantic American has a 1 year low of $1.49 and a 1 year high of $3.00. The firm’s 50 day moving average price is $2.55 and its two-hundred day moving average price is $2.25.

Hedge Funds Weigh In On Atlantic American

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Independent Advisor Alliance purchased a new position in Atlantic American during the 4th quarter worth approximately $32,000. BlackRock Inc. grew its position in Atlantic American by 62.1% during the 2nd quarter. BlackRock Inc. now owns 44,945 shares of the financial services provider’s stock worth $87,000 after purchasing an additional 17,212 shares in the last quarter. Finally, Investors Asset Management of Georgia Inc. GA ADV purchased a new position in Atlantic American during the 4th quarter worth approximately $43,000. 5.48% of the stock is currently owned by hedge funds and other 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.