Connor Clark & Lunn Investment Management Ltd. Makes New Investment in AMN Healthcare Services Inc $AMN

Key Points

• Connor Clark & Lunn Investment Management purchased 186,796 AMN Healthcare Services shares worth approximately $6.05 million, taking a 0.48% stake. Institutional investors collectively own 99.23% of the company.
• AMN reported quarterly earnings of $0.77 per share, far exceeding the $0.19 consensus estimate, while revenue reached $673.24 million and increased 2.3% year over year.
• The stock opened at $35.07, near its 52-week high of $37.22. Analysts have a consensus “Hold” rating with an average price target of $31.43, despite Truist raising its target to $40 and maintaining a Buy rating.

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of AMN Healthcare Services Inc (NYSE:AMN - Free Report) in the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 186,796 shares of the company's stock, valued at approximately $6,047,000. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.48% of AMN Healthcare Services as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in the stock. Globeflex Capital L P bought a new position in shares of AMN Healthcare Services in the 2nd quarter valued at approximately $282,000. Ieq Capital LLC bought a new position in shares of AMN Healthcare Services in the second quarter valued at approximately $2,036,000. Allworth Financial LP acquired a new stake in shares of AMN Healthcare Services in the second quarter worth $65,000. Great Lakes Advisors LLC acquired a new stake in shares of AMN Healthcare Services in the second quarter worth $2,191,000. Finally, First National Bank of Omaha bought a new stake in shares of AMN Healthcare Services during the 2nd quarter worth $2,575,000. Institutional investors and hedge funds own 99.23% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on AMN. Weiss Ratings upgraded shares of AMN Healthcare Services from a "sell (d-)" rating to a "sell (d+)" rating in a report on Tuesday, August 11th. Truist Financial upped their price target on shares of AMN Healthcare Services from $26.00 to $40.00 and gave the company a "buy" rating in a report on Wednesday, July 22nd. Wall Street Zen downgraded AMN Healthcare Services from a "buy" rating to a "hold" rating in a research report on Tuesday. Robert W. Baird set a $36.00 target price on AMN Healthcare Services in a research note on Friday, August 7th. Finally, Zacks Research lowered AMN Healthcare Services from a "strong-buy" rating to a "hold" rating in a report on Wednesday, May 20th. Four analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and an average price target of $31.43.

Insider Activity at AMN Healthcare Services

In related news, Director Mark G. Foletta sold 3,681 shares of the business's stock in a transaction on Monday, June 15th. The stock was sold at an average price of $31.07, for a total value of $114,368.67. Following the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is owned by company insiders.

AMN Healthcare Services Trading Up 2.4%

Shares of AMN Healthcare Services stock opened at $35.07 on Friday. AMN Healthcare Services Inc has a 52-week low of $14.97 and a 52-week high of $37.22. The firm has a market capitalization of $1.36 billion, a PE ratio of 13.09, a price-to-earnings-growth ratio of 1.26 and a beta of 0.40. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.13. The company's fifty day moving average price is $33.53 and its two-hundred day moving average price is $26.51.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last posted its earnings results on Thursday, August 6th. The company reported $0.77 earnings per share for the quarter, beating analysts' consensus estimates of $0.19 by $0.58. The business had revenue of $673.24 million for the quarter, compared to analysts' expectations of $628.39 million. AMN Healthcare Services had a net margin of 3.06% and a return on equity of 19.92%. The firm's revenue for the quarter was up 2.3% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.30 earnings per share. On average, analysts expect that AMN Healthcare Services Inc will post 3.1 EPS for the current year.

AMN Healthcare Services 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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