Atlantic American (NASDAQ:AAME) Shares Pass Below Two Hundred Day Moving Average – Here’s What Happened

Atlantic American Corporation (NASDAQ:AAME) shares passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.54 and traded as low as $1.63. Atlantic American shares last traded at $1.76, with a volume of 44,608 shares traded.

Analyst Ratings Changes

Separately, Weiss Ratings cut shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a report on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company presently has a consensus rating of “Sell”.

Atlantic American Trading Up 10.7%

The firm has a market capitalization of $35.90 million, a price-to-earnings ratio of 8.00 and a beta of 0.73. The stock’s fifty day moving average price is $2.31 and its two-hundred day moving average price is $2.54.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the business. Teton Advisors LLC acquired a new stake in shares of Atlantic American during the 3rd quarter worth about $55,000. Citadel Advisors LLC acquired a new position in Atlantic American in the third quarter valued at approximately $81,000. Finally, Geode Capital Management LLC boosted its holdings in Atlantic American by 10.4% in the fourth quarter. Geode Capital Management LLC now owns 46,273 shares of the financial services provider’s stock valued at $131,000 after purchasing an additional 4,368 shares in the last quarter. 5.54% of the stock is 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.