Steward Partners Investment Advisory LLC Purchases Shares of 14,353 American Well Co. (NYSE:AMWL)

Steward Partners Investment Advisory LLC purchased a new stake in shares of American Well Co. (NYSE:AMWLGet Rating) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 14,353 shares of the company’s stock, valued at approximately $60,000.

Several other institutional investors have also added to or reduced their stakes in the business. Caledonia Private Investments Pty Ltd boosted its holdings in shares of American Well by 29.5% during the fourth quarter. Caledonia Private Investments Pty Ltd now owns 16,384,786 shares of the company’s stock worth $98,964,000 after purchasing an additional 3,736,240 shares during the period. Senvest Management LLC purchased a new stake in shares of American Well during the fourth quarter worth about $20,814,000. Ibex Investors LLC purchased a new stake in shares of American Well during the fourth quarter worth about $13,176,000. Phoenix Holdings Ltd. boosted its holdings in shares of American Well by 88.5% during the fourth quarter. Phoenix Holdings Ltd. now owns 1,257,575 shares of the company’s stock worth $7,572,000 after purchasing an additional 590,453 shares during the period. Finally, Oxford Financial Group Ltd. purchased a new stake in shares of American Well during the fourth quarter worth about $1,409,000. 43.75% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts have recently weighed in on AMWL shares. Piper Sandler increased their target price on shares of American Well from $5.00 to $6.00 and gave the stock an “overweight” rating in a report on Thursday, June 23rd. Guggenheim assumed coverage on shares of American Well in a research note on Wednesday, April 13th. They issued a “buy” rating and a $6.00 price target for the company. Four equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

American Well Price Performance

AMWL stock opened at $4.57 on Thursday. American Well Co. has a 1 year low of $2.52 and a 1 year high of $11.73. The firm has a 50-day moving average of $4.33 and a 200 day moving average of $3.98. The company has a market cap of $1.22 billion, a P/E ratio of -5.78 and a beta of 0.15.

American Well (NYSE:AMWLGet Rating) last announced its earnings results on Monday, May 9th. The company reported ($0.26) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.22) by ($0.04). American Well had a negative net margin of 79.91% and a negative return on equity of 16.72%. The business had revenue of $64.20 million for the quarter, compared to the consensus estimate of $64.94 million. During the same period in the prior year, the business posted ($0.16) EPS. American Well’s revenue for the quarter was up 11.5% on a year-over-year basis. On average, equities research analysts expect that American Well Co. will post -0.98 earnings per share for the current fiscal year.

Insider Buying and Selling at American Well

In other American Well news, CFO Robert Shepardson sold 24,986 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $3.57, for a total transaction of $89,200.02. Following the completion of the transaction, the chief financial officer now owns 963,289 shares of the company’s stock, valued at $3,438,941.73. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Ido Schoenberg sold 300,000 shares of the firm’s stock in a transaction that occurred on Friday, July 1st. The shares were sold at an average price of $4.39, for a total transaction of $1,317,000.00. Following the completion of the sale, the chief executive officer now owns 2,073,108 shares of the company’s stock, valued at $9,100,944.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Shepardson sold 24,986 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $3.57, for a total transaction of $89,200.02. Following the sale, the chief financial officer now directly owns 963,289 shares of the company’s stock, valued at approximately $3,438,941.73. The disclosure for this sale can be found here. Over the last quarter, insiders sold 595,885 shares of company stock valued at $2,576,154. Corporate insiders own 14.68% of the company’s stock.

American Well Profile

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American Well Corporation operates as a telehealth software company that enables digital delivery of care for healthcare. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings. Its application offers urgent care; pediatrics; therapy; menopause nutrition; end-stage renal disease and dialysis; dermatology care; behavioral health therapy; and musculoskeletal care.

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Institutional Ownership by Quarter for American Well (NYSE:AMWL)

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