Hsbc Holdings PLC Lowers Stock Holdings in American Well Co. (NYSE:AMWL)

Hsbc Holdings PLC lowered its stake in shares of American Well Co. (NYSE:AMWL – Get Rating) by 36.5% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 19,064 shares of the company’s stock after selling 10,944 shares during the period. Hsbc Holdings PLC’s holdings in American Well were worth $71,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. SG Americas Securities LLC purchased a new stake in American Well in the 3rd quarter valued at approximately $196,000. Eagle Asset Management Inc. acquired a new position in shares of American Well during the 2nd quarter worth approximately $831,000. Caledonia Private Investments Pty Ltd raised its position in shares of American Well by 12.8% during the 2nd quarter. Caledonia Private Investments Pty Ltd now owns 18,070,245 shares of the company’s stock worth $78,063,000 after purchasing an additional 2,053,997 shares during the last quarter. Woodline Partners LP acquired a new position in shares of American Well during the 2nd quarter worth approximately $1,841,000. Finally, Virtu Financial LLC raised its position in shares of American Well by 88.4% during the 3rd quarter. Virtu Financial LLC now owns 33,169 shares of the company’s stock worth $119,000 after purchasing an additional 15,562 shares during the last quarter. Hedge funds and other institutional investors own 46.30% of the company’s stock.

American Well Stock Down 6.0 %

AMWL stock opened at $2.35 on Monday. The company has a 50 day moving average of $3.48 and a two-hundred day moving average of $3.65. American Well Co. has a 12-month low of $2.29 and a 12-month high of $5.43. The company has a market cap of $652.34 million, a price-to-earnings ratio of -2.40 and a beta of 0.80.

American Well (NYSE:AMWL – Get Rating) last announced its quarterly earnings results on Wednesday, February 22nd. The company reported ($0.22) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.25) by $0.03. The firm had revenue of $79.20 million during the quarter, compared to the consensus estimate of $78.05 million. American Well had a negative net margin of 97.73% and a negative return on equity of 23.77%. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period last year, the firm posted ($0.18) EPS. On average, research analysts anticipate that American Well Co. will post -0.75 EPS for the current year.

Insider Transactions at American Well

In related news, VP Bradford Gay sold 12,120 shares of the business’s stock in a transaction that occurred on Friday, January 27th. The shares were sold at an average price of $3.96, for a total transaction of $47,995.20. Following the completion of the transaction, the vice president now owns 738,192 shares in the company, valued at $2,923,240.32. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other American Well news, CEO Ido Schoenberg sold 132,006 shares of the company’s stock in a transaction on Wednesday, December 21st. The shares were sold at an average price of $3.24, for a total transaction of $427,699.44. Following the sale, the chief executive officer now directly owns 1,474,027 shares of the company’s stock, valued at $4,775,847.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP Bradford Gay sold 12,120 shares of the company’s stock in a transaction on Friday, January 27th. The shares were sold at an average price of $3.96, for a total transaction of $47,995.20. Following the completion of the transaction, the vice president now owns 738,192 shares in the company, valued at $2,923,240.32. The disclosure for this sale can be found here. Insiders sold a total of 191,298 shares of company stock worth $629,246 in the last quarter. 13.91% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several analysts have commented on AMWL shares. Credit Suisse Group lowered their target price on shares of American Well from $5.00 to $4.00 and set a “neutral” rating for the company in a research note on Thursday, February 23rd. Needham & Company LLC reaffirmed a “hold” rating on shares of American Well in a research report on Thursday, February 23rd. Guggenheim cut their price objective on shares of American Well from $6.00 to $5.00 in a report on Thursday, February 23rd. Morgan Stanley cut their price objective on shares of American Well from $7.00 to $6.00 and set an “overweight” rating on the stock in a report on Friday, January 6th. Finally, Cowen cut their target price on shares of American Well from $9.00 to $5.00 in a research note on Monday, February 27th. Four equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, American Well presently has an average rating of “Hold” and a consensus target price of $4.67.

American Well Company Profile

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American Well Corporation operates digital care delivery enablement platform in the United States and internationally. Its platform connects and enables providers, insurers, patients, and innovators to deliver access to care. The company products offer urgent care; scheduled visits; acute behavioral health; telestroke; pediatrics; retail health, school health, and home settings.