AMN Healthcare Services Inc (NYSE:AMN) Shares Bought by Allianz Asset Management GmbH

Key Points

• Allianz Asset Management GmbH increased its holdings in AMN Healthcare Services by 14.3% during the first quarter, now owning approximately 1.24% of the company, valued at $11.5 million.
• Analysts have mixed views on AMN Healthcare, with Truist Financial lowering its target price from $40 to $25, while the average consensus rating remains a "Hold" with a target price of $32.08.
• AMN Healthcare Services reported earnings of $0.45 per share for the latest quarter, significantly exceeding analyst expectations, but its revenue was down 16% year-over-year.

Allianz Asset Management GmbH grew its stake in shares of AMN Healthcare Services Inc (NYSE:AMN - Free Report) by 14.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 472,104 shares of the company's stock after acquiring an additional 59,244 shares during the period. Allianz Asset Management GmbH owned about 1.24% of AMN Healthcare Services worth $11,548,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in AMN. Newtyn Management LLC acquired a new stake in shares of AMN Healthcare Services in the 4th quarter worth about $28,417,000. Voloridge Investment Management LLC acquired a new stake in shares of AMN Healthcare Services in the 4th quarter worth about $12,685,000. Two Sigma Investments LP increased its holdings in shares of AMN Healthcare Services by 228.8% in the 4th quarter. Two Sigma Investments LP now owns 532,694 shares of the company's stock worth $12,742,000 after acquiring an additional 370,691 shares during the period. Invenomic Capital Management LP increased its holdings in shares of AMN Healthcare Services by 406.3% in the 4th quarter. Invenomic Capital Management LP now owns 401,807 shares of the company's stock worth $9,611,000 after acquiring an additional 322,445 shares during the period. Finally, Millennium Management LLC increased its holdings in shares of AMN Healthcare Services by 134.4% in the 4th quarter. Millennium Management LLC now owns 462,186 shares of the company's stock worth $11,055,000 after acquiring an additional 265,011 shares during the period. 99.23% of the stock is owned by institutional investors and hedge funds.

AMN Healthcare Services Price Performance

AMN traded down $0.75 on Wednesday, reaching $18.59. The company had a trading volume of 630,562 shares, compared to its average volume of 648,285. The company has a fifty day moving average of $20.96 and a 200-day moving average of $22.61. The company has a market capitalization of $711.63 million, a P/E ratio of -4.29 and a beta of 0.18. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.39. AMN Healthcare Services Inc has a one year low of $17.45 and a one year high of $70.07.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its quarterly earnings results on Thursday, May 8th. The company reported $0.45 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.26. AMN Healthcare Services had a negative net margin of 5.80% and a positive return on equity of 13.39%. The company had revenue of $689.53 million during the quarter, compared to the consensus estimate of $670.08 million. During the same period in the prior year, the company earned $0.97 EPS. AMN Healthcare Services's revenue was down 16.0% on a year-over-year basis. As a group, equities research analysts anticipate that AMN Healthcare Services Inc will post 1.33 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on AMN. UBS Group dropped their price objective on shares of AMN Healthcare Services from $30.00 to $25.50 and set a "neutral" rating on the stock in a report on Tuesday, May 13th. Truist Financial dropped their price objective on shares of AMN Healthcare Services from $40.00 to $25.00 and set a "buy" rating on the stock in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price of $32.08.

About AMN Healthcare Services

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.