Senvest Management LLC Has $5.98 Million Stake in American Well Corporation $AMWL

Key Points

• Senvest Management increased its American Well stake by 213.3% in Q1, ending with 1,136,558 shares valued at about $5.98 million.
• Several insiders sold shares recently, including Director Stephen J. Schlegel and insider Phyllis Gotlib, while insiders collectively sold 29,225 shares over the past three months.
• Analysts are mixed on AMWL, with the stock carrying a Hold consensus and an average price target of $8.60, though Wells Fargo recently raised its target to $16 and rated it Overweight.

Senvest Management LLC lifted its stake in American Well Corporation (NYSE:AMWL - Free Report) by 213.3% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,136,558 shares of the company's stock after purchasing an additional 773,834 shares during the quarter. Senvest Management LLC owned 6.87% of American Well worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in the stock. Hsbc Holdings PLC grew its position in American Well by 186.6% during the fourth quarter. Hsbc Holdings PLC now owns 46,565 shares of the company's stock valued at $224,000 after purchasing an additional 30,316 shares in the last quarter. NewEdge Advisors LLC purchased a new stake in American Well in the 4th quarter worth approximately $82,000. XTX Topco Ltd purchased a new stake in American Well in the 4th quarter worth approximately $215,000. Occudo Quantitative Strategies LP acquired a new stake in shares of American Well during the 4th quarter valued at $74,000. Finally, Squarepoint Ops LLC grew its holdings in shares of American Well by 74.5% during the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company's stock valued at $565,000 after acquiring an additional 49,135 shares in the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at American Well

In other American Well news, Director Stephen J. Schlegel sold 9,750 shares of the business's stock in a transaction dated Thursday, June 11th. The stock was sold at an average price of $8.76, for a total value of $85,410.00. Following the completion of the sale, the director owned 54,553 shares of the company's stock, valued at $477,884.28. The trade was a 15.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Phyllis Gotlib sold 6,677 shares of the stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the transaction, the insider directly owned 152,754 shares in the company, valued at approximately $1,425,194.82. This represents a 4.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 29,225 shares of company stock worth $268,623 over the last three months. Corporate insiders own 12.84% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on AMWL shares. Wells Fargo & Company upped their price target on shares of American Well from $9.00 to $16.00 and gave the stock an "overweight" rating in a research note on Friday, July 17th. TD Cowen lifted their price objective on American Well from $5.00 to $8.00 and gave the company a "hold" rating in a research report on Wednesday, May 6th. Morgan Stanley boosted their target price on American Well from $6.00 to $6.50 and gave the company an "equal weight" rating in a research note on Wednesday, May 6th. Truist Financial set a $7.50 target price on American Well in a research report on Monday, June 8th. Finally, Weiss Ratings reaffirmed a "sell (d-)" rating on shares of American Well in a research note on Friday, July 17th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $8.60.

American Well Stock Up 0.4%

AMWL stock opened at $10.81 on Friday. The company has a market capitalization of $178.94 million, a price-to-earnings ratio of -1.99 and a beta of 1.69. American Well Corporation has a 12 month low of $3.71 and a 12 month high of $13.45. The firm has a 50 day moving average of $9.29 and a two-hundred day moving average of $6.86.

American Well (NYSE:AMWL - Get Free Report) last released its quarterly earnings data on Tuesday, May 5th. The company reported ($0.66) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.77) by $0.11. The business had revenue of $54.88 million during the quarter, compared to analyst estimates of $51.54 million. American Well had a negative net margin of 37.02% and a negative return on equity of 32.11%. On average, research analysts expect that American Well Corporation will post -2.68 EPS for the current fiscal year.

American Well Profile

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company's core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.

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