Atlantic American (NASDAQ:AAME) Share Price Crosses Below 200-Day Moving Average – Here’s Why

Atlantic American Corporation (NASDAQ:AAME)’s share price crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $2.59 and traded as low as $2.15. Atlantic American shares last traded at $2.16, with a volume of 7,903 shares changing hands.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings cut Atlantic American from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, May 14th. One equities research analyst has rated the stock with a Hold rating, Based on data from MarketBeat, Atlantic American presently has a consensus rating of “Hold”.

Atlantic American Stock Down 3.6%

The firm has a market capitalization of $44.06 million, a PE ratio of 9.82 and a beta of 0.79. The stock’s fifty day simple moving average is $2.40 and its 200 day simple moving average is $2.59.

Institutional Investors Weigh In On Atlantic American

Hedge funds and other institutional investors have recently modified their holdings of the stock. Geode Capital Management LLC increased its stake 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 purchasing an additional 4,368 shares in the last quarter. Citadel Advisors LLC purchased a new position in Atlantic American during the third quarter valued at $81,000. Finally, Teton Advisors LLC purchased a new position in Atlantic American during the third quarter valued at $55,000. 5.54% of the stock is currently owned by hedge funds and other institutional investors.

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.