Atlantic American (NASDAQ:AAME) Stock Price Crosses Below Two Hundred Day Moving Average – Here’s Why

Atlantic American Corporation (NASDAQ:AAME)’s share price crossed below its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $2.80 and traded as low as $2.42. Atlantic American shares last traded at $2.52, with a volume of 7,460 shares changing hands.

Analysts Set New Price Targets

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

Atlantic American Trading Down 0.4%

The stock has a market cap of $51.41 million, a price-to-earnings ratio of 11.46 and a beta of 0.69. The firm’s 50-day moving average is $2.71 and its two-hundred day moving average is $2.80.

Hedge Funds Weigh In On Atlantic American

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of Atlantic American by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock worth $131,000 after acquiring an additional 4,368 shares during the last quarter. Citadel Advisors LLC acquired a new position in Atlantic American in the 3rd quarter valued at $81,000. Finally, Teton Advisors LLC purchased a new position in Atlantic American in the 3rd quarter valued at $55,000. Hedge funds and other institutional investors own 5.54% of the company’s stock.

Atlantic American Company Profile

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.