StockNews.com Initiates Coverage on Atlantic American (NASDAQ:AAME)

StockNews.com assumed coverage on shares of Atlantic American (NASDAQ:AAME) in a research report released on Sunday. The firm issued a hold rating on the financial services provider’s stock.

Atlantic American Stock Performance

Shares of Atlantic American stock opened at $1.55 on Friday. Atlantic American has a 52-week low of $1.49 and a 52-week high of $3.00. The stock’s 50-day simple moving average is $1.60 and its 200 day simple moving average is $1.88. The stock has a market capitalization of $31.62 million, a P/E ratio of -31.00 and a beta of 0.44.

Atlantic American (NASDAQ:AAME) last announced its quarterly earnings data on Wednesday, August 14th. The financial services provider reported ($0.06) earnings per share (EPS) for the quarter. Atlantic American had a negative net margin of 1.69% and a negative return on equity of 5.89%. The firm had revenue of $47.67 million during the quarter.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in Atlantic American stock. Independent Advisor Alliance bought a new stake in shares of Atlantic American Co. (NASDAQ:AAME) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 13,101 shares of the financial services provider’s stock, valued at approximately $32,000. Independent Advisor Alliance owned approximately 0.06% of Atlantic American as of its most recent SEC filing. 5.48% of the stock is owned by institutional investors and hedge funds.

Atlantic American Company Profile

Atlantic American Corporation, through its subsidiaries, provides life and health, and property and casualty insurance products in the United States. It operates through American Southern and Bankers Fidelity segments. The company offers property and casualty insurance products, including commercial automobile insurance coverage for state governments, local municipalities, and other motor pools and fleets; general liability; and inland marine insurance products.