Atlantic American (NASDAQ:AAME) Shares Cross Below Two Hundred Day Moving Average – Here’s What Happened

Atlantic American Corporation (NASDAQ:AAME)’s stock price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.70 and traded as low as $2.70. Atlantic American shares last traded at $2.88, with a volume of 37,781 shares traded.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Atlantic American in a research note on Wednesday, December 24th. One research analyst has rated the stock with a Hold rating, Based on data from MarketBeat.com, the company presently has an average rating of “Hold”.

Atlantic American Price Performance

The stock has a market cap of $58.75 million, a price-to-earnings ratio of 13.09 and a beta of 0.77. The firm has a 50 day simple moving average of $2.67 and a two-hundred day simple moving average of $2.71.

Atlantic American (NASDAQ:AAME) last posted its earnings results on Friday, November 14th. The financial services provider reported $0.02 earnings per share (EPS) for the quarter. The company had revenue of $52.98 million during the quarter. Atlantic American had a return on equity of 1.62% and a net margin of 2.45%.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently bought a new stake in Atlantic American stock. Teton Advisors LLC bought a new position in shares of Atlantic American Corporation (NASDAQ:AAME) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 19,000 shares of the financial services provider’s stock, valued at approximately $55,000. Teton Advisors LLC owned approximately 0.09% of Atlantic American as of its most recent filing with the Securities and Exchange Commission. 5.54% of the stock is currently owned by hedge funds and other institutional investors.

About Atlantic American

Atlantic American Corporation is a Florida-based holding company that engages in the insurance business through its wholly owned subsidiaries. The company’s operations are organized into four principal segments: Life Insurance, Accident and Health Insurance, Property and Casualty Insurance, and Risk Retention Group. Through these lines of business, Atlantic American provides a range of insurance products and services to individuals, businesses and affinity groups across the United States.

In its Life Insurance segment, Atlantic American offers traditional whole life and universal life policies, emphasizing guaranteed death benefits and cash value accumulation.