Arrowstreet Capital Limited Partnership Boosts Stock Position in AMN Healthcare Services Inc $AMN

Key Points

• Arrowstreet Capital increased its AMN Healthcare stake by 1,278% in the first quarter, adding 1.3 million shares to own approximately 3.61% of the company, worth $25.7 million. Institutional investors collectively own 99.23% of the stock.
• AMN Healthcare beat quarterly expectations, reporting $2.10 in earnings per share versus the $1.60 consensus and $1.38 billion in revenue. Revenue nearly doubled year over year, although the company posted a slightly negative net margin.
• Analyst sentiment remains mixed: AMN has an average “Hold” rating and a $29 price target, compared with a recent share price of $34.41. The stock has traded between $14.86 and $36.27 over the past year.

Arrowstreet Capital Limited Partnership grew its holdings in shares of AMN Healthcare Services Inc (NYSE:AMN - Free Report) by 1,278.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,401,725 shares of the company's stock after purchasing an additional 1,300,005 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 3.61% of AMN Healthcare Services worth $25,708,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the business. Summit Securities Group LLC bought a new position in AMN Healthcare Services during the fourth quarter valued at about $32,000. China Universal Asset Management Co. Ltd. grew its position in shares of AMN Healthcare Services by 200.0% during the 4th quarter. China Universal Asset Management Co. Ltd. now owns 3,000 shares of the company's stock valued at $47,000 after acquiring an additional 2,000 shares during the period. Tower Research Capital LLC TRC grew its position in shares of AMN Healthcare Services by 49.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 3,093 shares of the company's stock valued at $64,000 after acquiring an additional 1,020 shares during the period. Johnson Financial Group Inc. purchased a new stake in shares of AMN Healthcare Services during the 3rd quarter worth approximately $63,000. Finally, Strs Ohio purchased a new stake in shares of AMN Healthcare Services during the 1st quarter worth approximately $95,000. 99.23% of the stock is currently owned by institutional investors.

Insider Transactions at AMN Healthcare Services

In other AMN Healthcare Services news, Director Mark G. Foletta sold 3,681 shares of the business's stock in a transaction that occurred on Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $114,368.67. Following the completion of the transaction, the director owned 17,917 shares of the company's stock, valued at $556,681.19. The trade was a 17.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by insiders.

AMN Healthcare Services Stock Performance

NYSE:AMN opened at $34.41 on Thursday. The stock has a market cap of $1.33 billion, a P/E ratio of -39.56, a PEG ratio of 0.80 and a beta of 0.41. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 1.04. The business's 50-day moving average price is $31.68 and its two-hundred day moving average price is $24.35. AMN Healthcare Services Inc has a twelve month low of $14.86 and a twelve month high of $36.27.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its quarterly earnings data on Thursday, May 7th. The company reported $2.10 EPS for the quarter, topping the consensus estimate of $1.60 by $0.50. The company had revenue of $1.38 billion during the quarter, compared to analyst estimates of $1.23 billion. AMN Healthcare Services had a positive return on equity of 18.01% and a negative net margin of 0.95%.AMN Healthcare Services's revenue was up 99.9% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.45 earnings per share. As a group, equities analysts predict that AMN Healthcare Services Inc will post 2.7 EPS for the current fiscal year.

Analysts Set New Price Targets

Several equities research analysts have commented on AMN shares. UBS Group upped their price objective on shares of AMN Healthcare Services from $19.50 to $32.00 and gave the company a "neutral" rating in a report on Wednesday, May 13th. Citizens Jmp reiterated a "market outperform" rating and issued a $36.00 target price on shares of AMN Healthcare Services in a research note on Tuesday, June 23rd. Robert W. Baird boosted their price target on shares of AMN Healthcare Services from $23.00 to $26.00 and gave the company a "neutral" rating in a research report on Monday, May 11th. Weiss Ratings upgraded AMN Healthcare Services from a "sell (e+)" rating to a "sell (d-)" rating in a research report on Wednesday, June 17th. Finally, Wall Street Zen raised AMN Healthcare Services from a "buy" rating to a "strong-buy" rating in a report on Saturday, May 16th. Four equities research analysts have rated the stock with a Buy rating, three have assigned a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $29.00.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc NYSE: AMN is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.

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