Atlantic American (NASDAQ:AAME) Stock Price Crosses Below Fifty Day Moving Average – Here’s What Happened

Shares of Atlantic American Corporation (NASDAQ:AAME) crossed below its 50-day moving average during trading on Tuesday . The stock has a 50-day moving average of $2.03 and traded as low as $1.66. Atlantic American shares last traded at $1.68, with a volume of 19,354 shares trading hands.

Wall Street Analyst Weigh In

Separately, Weiss Ratings upgraded shares of Atlantic American from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, June 18th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat.com, Atlantic American has a consensus rating of “Hold”.

Atlantic American Price Performance

The stock has a market capitalization of $34.27 million, a P/E ratio of 7.64 and a beta of 0.76. The stock’s fifty day moving average is $2.03 and its two-hundred day moving average is $2.44.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its stake in Atlantic American stock. Geode Capital Management LLC grew its stake in shares of Atlantic American Corporation (NASDAQ:AAME) by 10.4% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 46,273 shares of the financial services provider’s stock after purchasing an additional 4,368 shares during the period. Geode Capital Management LLC owned about 0.23% of Atlantic American worth $131,000 as of its most recent SEC filing. 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.