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

Atlantic American Corporation (NASDAQ:AAME) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.34 and traded as low as $1.57. Atlantic American shares last traded at $1.57, with a volume of 776 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings downgraded shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Tuesday, July 7th. One analyst has rated the stock with a Sell rating, Based on data from MarketBeat, Atlantic American presently has a consensus rating of “Sell”.

Atlantic American Stock Performance

The firm has a market cap of $32.03 million, a P/E ratio of 7.14 and a beta of 0.76. The firm has a fifty day moving average of $1.81 and a 200-day moving average of $2.34.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its stake in Atlantic American stock. Geode Capital Management LLC increased its position in Atlantic American Corporation (NASDAQ:AAME) by 10.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 46,273 shares of the financial services provider’s stock after acquiring an additional 4,368 shares during the period. Geode Capital Management LLC owned approximately 0.23% of Atlantic American worth $131,000 at the end of the most recent reporting period. Institutional investors and hedge funds 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.