Atlantic American (NASDAQ:AAME) Shares Pass Below 200-Day Moving Average – Here’s Why

Atlantic American Corporation (NASDAQ:AAME)’s stock price passed below its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $2.62 and traded as low as $2.40. Atlantic American shares last traded at $2.40, with a volume of 7,251 shares trading hands.

Analyst Ratings Changes

Separately, Weiss Ratings reissued a “hold (c)” rating on shares of Atlantic American in a research report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating, According to MarketBeat, Atlantic American has an average rating of “Hold”.

Atlantic American Price Performance

The stock’s 50-day moving average price is $2.73 and its 200-day moving average price is $2.62. The company has a market cap of $48.96 million, a P/E ratio of 10.91 and a beta of 0.77.

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

Institutional Investors Weigh In On Atlantic American

An institutional investor recently bought a new position in Atlantic American stock. Citadel Advisors LLC bought a new position in shares of Atlantic American Corporation (NASDAQ:AAME) during the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 28,224 shares of the financial services provider’s stock, valued at approximately $81,000. Citadel Advisors LLC owned approximately 0.14% of Atlantic American as of its most recent filing with the SEC. 5.54% of the stock is 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.