Atlantic American (NASDAQ:AAME) Stock Crosses Below 200 Day Moving Average – Should You Sell?

Atlantic American Corporation (NASDAQ:AAME) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $2.39 and traded as low as $1.60. Atlantic American shares last traded at $1.60, with a volume of 34,574 shares changing hands.

Analysts Set New Price Targets

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, According to MarketBeat, the company presently has an average rating of “Sell”.

Atlantic American Price Performance

The firm has a market capitalization of $32.64 million, a price-to-earnings ratio of 7.27 and a beta of 0.76. The stock has a fifty day moving average of $1.91 and a two-hundred day moving average of $2.39.

Hedge Funds Weigh In On Atlantic American

An institutional investor recently raised its position in Atlantic American stock. Geode Capital Management LLC boosted its stake in Atlantic American Corporation (NASDAQ:AAME) by 10.4% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund 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 0.23% of Atlantic American worth $131,000 at the end of the most recent quarter. 5.54% of the stock is currently owned by hedge funds and other institutional investors.

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.