Atlantic American (NASDAQ:AAME) Stock Price Passes Below 200-Day Moving Average – Should You Sell?

Shares of Atlantic American Corporation (NASDAQ:AAME) passed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.13 and traded as low as $1.2893. Atlantic American shares last traded at $1.30, with a volume of 44,159 shares trading hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings lowered shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One research analyst has rated the stock with a Sell rating, According to data from MarketBeat, Atlantic American presently has a consensus rating of “Sell”.

Atlantic American Stock Performance

The firm has a 50-day simple moving average of $1.58 and a two-hundred day simple moving average of $2.12. The stock has a market cap of $26.32 million, a P/E ratio of 5.86 and a beta of 0.77.

Institutional Investors Weigh In On Atlantic American

A number of large investors have recently bought and sold shares of AAME. BlackRock Inc. acquired a new stake in shares of Atlantic American in the 2nd quarter valued at $179,000. Biglari Sardar acquired a new position in Atlantic American in the 2nd quarter valued at approximately $176,788,000. Geode Capital Management LLC raised its position in Atlantic American by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock worth $131,000 after purchasing an additional 4,368 shares during the last quarter. Finally, Citadel Advisors LLC bought a new position in shares of Atlantic American during the third quarter worth about $81,000. 5.54% of the stock is currently owned by institutional investors and hedge funds.

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.