American Well Co. (NYSE:AMWL) Insider Phyllis Gotlib Sells 4,782 Shares

American Well Co. (NYSE:AMWL) insider Phyllis Gotlib sold 4,782 shares of the business’s stock in a transaction on Monday, June 2nd. The shares were sold at an average price of $6.61, for a total transaction of $31,609.02. Following the completion of the transaction, the insider now owns 141,849 shares of the company’s stock, valued at approximately $937,621.89. This represents a 3.26% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink.

American Well Stock Up 0.4%

AMWL opened at $6.94 on Thursday. The company has a market cap of $108.33 million, a PE ratio of -0.50 and a beta of 1.19. American Well Co. has a twelve month low of $5.00 and a twelve month high of $12.95. The company has a 50-day moving average price of $7.13 and a 200 day moving average price of $8.48.

American Well (NYSE:AMWL) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($1.73) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($3.09) by $1.36. The firm had revenue of $66.83 million for the quarter, compared to analyst estimates of $60.15 million. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. As a group, sell-side analysts expect that American Well Co. will post -9.34 earnings per share for the current year.

Institutional Investors Weigh In On American Well

Hedge funds have recently modified their holdings of the company. Acadian Asset Management LLC boosted its stake in American Well by 19.5% during the first quarter. Acadian Asset Management LLC now owns 188,217 shares of the company’s stock worth $1,481,000 after buying an additional 30,669 shares during the period. Jane Street Group LLC lifted its holdings in shares of American Well by 232.9% in the 1st quarter. Jane Street Group LLC now owns 64,112 shares of the company’s stock worth $505,000 after acquiring an additional 44,852 shares during the last quarter. Goldman Sachs Group Inc. lifted its holdings in shares of American Well by 280.6% in the 1st quarter. Goldman Sachs Group Inc. now owns 64,760 shares of the company’s stock worth $510,000 after acquiring an additional 47,745 shares during the last quarter. OMERS ADMINISTRATION Corp boosted its position in shares of American Well by 207.9% during the 1st quarter. OMERS ADMINISTRATION Corp now owns 32,331 shares of the company’s stock worth $255,000 after purchasing an additional 21,831 shares during the period. Finally, Sapient Capital LLC purchased a new position in shares of American Well during the 1st quarter worth approximately $79,000. Hedge funds and other institutional investors own 56.05% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have weighed in on AMWL. Truist Financial decreased their price objective on shares of American Well from $12.00 to $7.50 and set a “hold” rating for the company in a research report on Thursday, April 10th. Stifel Nicolaus reduced their price target on American Well from $10.00 to $8.00 and set a “hold” rating for the company in a report on Friday, May 2nd. Piper Sandler reissued a “neutral” rating and issued a $8.00 price objective (down from $10.00) on shares of American Well in a report on Friday, May 23rd. UBS Group cut their price objective on American Well from $12.00 to $9.00 and set a “neutral” rating for the company in a research report on Thursday, May 8th. Finally, Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research note on Friday, May 2nd. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $9.67.

American Well Company Profile

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.