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

Shares of Atlantic American Corporation (NASDAQ:AAME) passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.50 and traded as low as $1.73. Atlantic American shares last traded at $1.74, with a volume of 20,762 shares trading hands.

Analysts Set New Price Targets

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

Atlantic American Price Performance

The firm has a market cap of $35.50 million, a price-to-earnings ratio of 7.91 and a beta of 0.73. The business’s 50-day moving average price is $2.20 and its two-hundred day moving average price is $2.50.

Hedge Funds Weigh In On Atlantic American

A number of hedge funds have recently added to or reduced their stakes in the business. Geode Capital Management LLC grew its position in shares of Atlantic American by 10.4% during the 4th quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock valued at $131,000 after buying an additional 4,368 shares during the last quarter. Citadel Advisors LLC acquired a new stake in Atlantic American during the third quarter worth about $81,000. Finally, Teton Advisors LLC bought a new position in Atlantic American in the third quarter worth about $55,000. 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.