Atlantic American (NASDAQ:AAME) Shares Cross Below 200 Day Moving Average – Here’s What Happened

Atlantic American Corporation (NASDAQ:AAME) shares passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.69 and traded as low as $2.44. Atlantic American shares last traded at $2.4950, with a volume of 5,084 shares traded.

Atlantic American Stock Performance

The company has a market cap of $50.90 million, a P/E ratio of 11.34 and a beta of 0.79. The stock has a 50 day moving average price of $2.57 and a 200 day moving average price of $2.69.

Hedge Funds Weigh In On Atlantic American

Hedge funds have recently modified their holdings of the stock. Teton Advisors LLC acquired a new position in shares of Atlantic American in the 3rd quarter worth $55,000. Citadel Advisors LLC acquired a new position in shares of Atlantic American in the 3rd quarter worth $81,000. Finally, Geode Capital Management LLC grew its holdings in shares of Atlantic American by 10.4% in the 4th 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. 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.