Atlantic American (NASDAQ:AAME) Share Price Crosses Below Two Hundred Day Moving Average – Time to Sell?

Atlantic American Corporation (NASDAQ:AAME)’s share price crossed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $2.39 and traded as low as $1.60. Atlantic American shares last traded at $1.60, with a volume of 34,574 shares traded.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings lowered Atlantic American from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Tuesday, July 7th. One investment analyst has rated the stock with a Sell rating, Based on data from MarketBeat, the company currently has an average rating of “Sell”.

Atlantic American Stock Down 1.8%

The company has a market capitalization of $32.64 million, a P/E ratio of 7.27 and a beta of 0.76. The business’s 50-day moving average is $1.91 and its two-hundred day moving average is $2.39.

Hedge Funds Weigh In On Atlantic American

A hedge fund recently raised its stake in Atlantic American stock. Geode Capital Management LLC lifted its holdings in Atlantic American Corporation (NASDAQ:AAME) by 10.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 46,273 shares of the financial services provider’s stock after buying an additional 4,368 shares during the period. Geode Capital Management LLC owned approximately 0.23% of Atlantic American worth $131,000 at the end of the most recent reporting period. Hedge funds and other institutional investors own 5.54% of the company’s stock.

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.