Atlantic American (NASDAQ:AAME) Stock Price Crosses Above 50-Day Moving Average – What’s Next?

Atlantic American Corporation (NASDAQ:AAME) shares passed above its 50-day moving average during trading on Wednesday . The stock has a 50-day moving average of $2.58 and traded as high as $2.62. Atlantic American shares last traded at $2.61, with a volume of 9,872 shares traded.

Wall Street Analyst Weigh In

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

Atlantic American Price Performance

The stock has a market cap of $53.24 million, a PE ratio of 11.86 and a beta of 0.79. The firm’s 50 day moving average price is $2.58 and its two-hundred day moving average price is $2.70.

Hedge Funds Weigh In On Atlantic American

Large investors have recently modified their holdings of the business. Teton Advisors LLC purchased a new position in Atlantic American during the third quarter valued at approximately $55,000. Citadel Advisors LLC purchased a new position in Atlantic American during the third quarter valued at approximately $81,000. Finally, Geode Capital Management LLC grew its stake in Atlantic American by 10.4% during the fourth quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock valued at $131,000 after acquiring an additional 4,368 shares in the last quarter. Hedge funds and other institutional investors own 5.54% of the company’s stock.

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.