Atlantic American (NASDAQ:AAME) Stock Crosses Above 50 Day Moving Average – Here’s What Happened

Atlantic American Corporation (NASDAQ:AAME)’s share price passed above its 50-day moving average during trading on Monday . The stock has a 50-day moving average of $2.67 and traded as high as $2.92. Atlantic American shares last traded at $2.77, with a volume of 32,175 shares trading hands.

Analyst Upgrades and Downgrades

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

Atlantic American Stock Performance

The company has a market capitalization of $56.51 million, a price-to-earnings ratio of 12.59 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 $2.80.

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

Institutional Trading of Atlantic American

An institutional investor recently bought a new position in Atlantic American stock. Citadel Advisors LLC acquired a new stake in Atlantic American Corporation (NASDAQ:AAME) during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 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 at the end of the most recent quarter. 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.