Atlantic American (NASDAQ:AAME) Share Price Crosses 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 Friday . The stock has a 200-day moving average of $2.87 and traded as low as $2.60. Atlantic American shares last traded at $2.62, with a volume of 15,545 shares.

Wall Street Analysts Forecast Growth

Separately, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Atlantic American in a research report on Wednesday, December 24th. One equities research analyst has rated the stock with a Hold rating, According to MarketBeat, the stock currently has a consensus rating of “Hold”.

Atlantic American Stock Down 2.6%

The firm has a market cap of $53.45 million, a price-to-earnings ratio of 11.91 and a beta of 0.80. The business has a 50 day moving average price of $2.77 and a 200-day moving average price of $2.87.

Hedge Funds Weigh In On Atlantic American

A number of institutional investors and hedge funds have recently added to or reduced their stakes in AAME. Teton Advisors LLC purchased a new stake in shares of Atlantic American during the third quarter worth about $55,000. Citadel Advisors LLC purchased a new position in Atlantic American in the third quarter valued at about $81,000. Finally, Geode Capital Management LLC grew its stake 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 valued at $131,000 after purchasing an additional 4,368 shares in the last quarter. 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.