Monaco Asset Management SAM Makes New Investment in American Well Corporation $AMWL

Monaco Asset Management SAM purchased a new position in American Well Corporation (NYSE:AMWL) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 68,940 shares of the company’s stock, valued at approximately $338,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Headlands Technologies LLC acquired a new stake in shares of American Well during the 2nd quarter valued at about $39,000. Universal Beteiligungs und Servicegesellschaft mbH acquired a new stake in shares of American Well during the 3rd quarter valued at about $62,000. Prelude Capital Management LLC acquired a new stake in shares of American Well during the 3rd quarter valued at about $86,000. Engineers Gate Manager LP acquired a new stake in shares of American Well during the 2nd quarter valued at about $101,000. Finally, JPMorgan Chase & Co. boosted its position in shares of American Well by 16.5% during the 2nd quarter. JPMorgan Chase & Co. now owns 14,720 shares of the company’s stock valued at $131,000 after acquiring an additional 2,081 shares in the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at American Well

In related news, insider Dmitry Zamansky sold 5,575 shares of American Well stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $5.30, for a total transaction of $29,547.50. Following the completion of the transaction, the insider directly owned 241,080 shares of the company’s stock, valued at $1,277,724. This trade represents a 2.26% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Over the last ninety days, insiders have sold 9,664 shares of company stock worth $51,219. Company insiders own 12.84% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on AMWL. Morgan Stanley lifted their target price on shares of American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. TD Cowen lifted their target price on shares of American Well from $5.00 to $8.00 and gave the company a “hold” rating in a research report on Wednesday, May 6th. Wall Street Zen upgraded shares of American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Finally, Stifel Nicolaus decreased their target price on shares of American Well from $6.00 to $5.00 and set a “hold” rating on the stock in a research report on Friday, February 13th. One analyst has rated the stock with a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $7.13.

American Well Stock Down 1.0%

Shares of AMWL stock opened at $9.74 on Monday. American Well Corporation has a 12-month low of $3.71 and a 12-month high of $9.83. The company has a market capitalization of $161.11 million, a P/E ratio of -1.80 and a beta of 1.69. The firm has a 50-day moving average price of $6.62 and a 200 day moving average price of $5.41.

American Well (NYSE:AMWL) last announced its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.11. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. The firm had revenue of $54.88 million during the quarter, compared to the consensus estimate of $51.54 million. As a group, research analysts expect that American Well Corporation will post -2.68 earnings per share for the current year.

American Well Company Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.