Engineers Gate Manager LP Sells 106,280 Shares of AMN Healthcare Services Inc $AMN

Key Points

• Engineers Gate Manager LP cut its AMN Healthcare Services stake by 58.9% in the second quarter, selling 106,280 shares and retaining 74,190 shares valued at approximately $2.4 million.
• AMN reported stronger-than-expected quarterly results, with EPS of $0.77 versus the $0.19 consensus and revenue of $673.24 million, up 2.3% year over year.
• Institutional investors own 99.23% of AMN, while Wall Street’s overall rating is “Hold” with an average price target of $36, slightly above the reported share price of $34.16.

Engineers Gate Manager LP reduced its position in AMN Healthcare Services Inc (NYSE:AMN - Free Report) by 58.9% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 74,190 shares of the company's stock after selling 106,280 shares during the quarter. Engineers Gate Manager LP owned approximately 0.19% of AMN Healthcare Services worth $2,402,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of AMN Healthcare Services by 41.8% during the 2nd quarter. Versant Capital Management Inc now owns 1,170 shares of the company's stock valued at $38,000 after purchasing an additional 345 shares during the period. IFP Advisors Inc lifted its stake in shares of AMN Healthcare Services by 849.6% during the 2nd quarter. IFP Advisors Inc now owns 1,282 shares of the company's stock valued at $41,000 after buying an additional 1,147 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in AMN Healthcare Services in the 2nd quarter worth $49,000. Allworth Financial LP purchased a new stake in AMN Healthcare Services in the 2nd quarter worth $65,000. Finally, Public Employees Retirement System of Ohio purchased a new stake in AMN Healthcare Services in the 2nd quarter worth $174,000. 99.23% of the stock is owned by hedge funds and other institutional investors.

AMN Healthcare Services Stock Performance

NYSE AMN opened at $34.16 on Tuesday. The stock has a market capitalization of $1.32 billion, a PE ratio of 12.75, a P/E/G ratio of 1.15 and a beta of 0.38. The business has a 50 day simple moving average of $33.77 and a two-hundred day simple moving average of $27.81. The company has a debt-to-equity ratio of 1.00, a current ratio of 1.13 and a quick ratio of 1.13. AMN Healthcare Services Inc has a 1-year low of $14.97 and a 1-year high of $37.22.

AMN Healthcare Services (NYSE:AMN - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $0.77 EPS for the quarter, topping analysts' consensus estimates of $0.19 by $0.58. The business had revenue of $673.24 million during 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 business's revenue was up 2.3% on a year-over-year basis. During the same period last year, the company posted $0.30 EPS. On average, research analysts predict that AMN Healthcare Services Inc will post 3.32 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have commented on AMN. Citigroup reissued an "outperform" rating on shares of AMN Healthcare Services in a report on Friday, August 14th. Zacks Research downgraded AMN Healthcare Services from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, May 20th. Weiss Ratings upgraded AMN Healthcare Services from a "sell (d-)" rating to a "sell (d+)" rating in a research note on Tuesday, August 11th. Truist Financial increased their price objective 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. Finally, UBS Group boosted their target price on shares of AMN Healthcare Services from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Friday, August 7th. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, AMN Healthcare Services has an average rating of "Hold" and an average price target of $36.00.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to hospitals, health systems, medical groups, government agencies and other healthcare organizations. Its services are designed to help clients address workforce shortages, manage changing staffing needs and support the delivery of patient care.

The company's offerings include travel and temporary nurse staffing, allied healthcare staffing, physician and advanced-practice professional staffing, and permanent placement services.

Want to see what other hedge funds are holding AMN? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for AMN Healthcare Services Inc (NYSE:AMN - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.