Atlantic American (NASDAQ:AAME) Share Price Passes Below 200 Day Moving Average – Should You Sell?

Atlantic American Corporation (NASDAQ:AAME)’s stock price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $2.03 and traded as low as $1.31. Atlantic American shares last traded at $1.31, with a volume of 42,630 shares traded.

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 note on Tuesday, July 7th. One equities research analyst has rated the stock with a Sell rating, According to MarketBeat.com, Atlantic American currently has a consensus rating of “Sell”.

Atlantic American Price Performance

The company has a market capitalization of $26.52 million, a price-to-earnings ratio of 5.91 and a beta of 0.77. The stock’s fifty day simple moving average is $1.49 and its two-hundred day simple moving average is $2.01.

Hedge Funds Weigh In On Atlantic American

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of Atlantic American during the third quarter valued at approximately $81,000. Geode Capital Management LLC raised 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 worth $131,000 after purchasing an additional 4,368 shares during the period. Biglari Sardar bought a new stake in shares of Atlantic American in the 2nd quarter worth approximately $176,788. Finally, BlackRock Inc. bought a new stake in shares of Atlantic American in the 2nd quarter worth approximately $179,000. 5.54% of the stock is currently owned by institutional investors and hedge funds.

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.