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

Atlantic American Corporation (NASDAQ:AAME)’s share price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings lowered shares of Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Wednesday, June 3rd. One investment analyst has rated the stock with a Sell rating, According to MarketBeat.com, Atlantic American has a consensus rating of “Sell”.

Atlantic American Price Performance

The business’s 50 day simple moving average is $2.31 and its 200 day simple moving average is $2.54. The company has a market capitalization of $35.90 million, a price-to-earnings ratio of 8.00 and a beta of 0.73.

Institutional Trading of Atlantic American

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Geode Capital Management LLC lifted its position in 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 acquiring an additional 4,368 shares during the period. Teton Advisors LLC purchased a new position in shares of Atlantic American in the 3rd quarter valued at approximately $55,000. Finally, Citadel Advisors LLC acquired a new position in shares of Atlantic American in the third quarter valued at approximately $81,000. 5.54% of the stock is 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.