SG Americas Securities LLC Grows Position in American Well Co. (NYSE:AMWL)

SG Americas Securities LLC increased its holdings in American Well Co. (NYSE:AMWL) by 58.3% in the fourth quarter, Holdings Channel reports. The fund owned 107,696 shares of the company’s stock after purchasing an additional 39,655 shares during the quarter. SG Americas Securities LLC’s holdings in American Well were worth $160,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in the business. Captrust Financial Advisors lifted its stake in American Well by 1.6% in the second quarter. Captrust Financial Advisors now owns 150,442 shares of the company’s stock worth $650,000 after acquiring an additional 2,353 shares during the period. Price T Rowe Associates Inc. MD lifted its position in shares of American Well by 2.9% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 110,356 shares of the company’s stock valued at $312,000 after buying an additional 3,160 shares during the last quarter. Legal & General Group Plc lifted its position in shares of American Well by 1.7% during the fourth quarter. Legal & General Group Plc now owns 190,120 shares of the company’s stock valued at $538,000 after buying an additional 3,238 shares during the last quarter. Point72 Hong Kong Ltd lifted its position in shares of American Well by 175.1% during the first quarter. Point72 Hong Kong Ltd now owns 8,087 shares of the company’s stock valued at $34,000 after buying an additional 5,147 shares during the last quarter. Finally, Verition Fund Management LLC lifted its position in shares of American Well by 27.6% during the first quarter. Verition Fund Management LLC now owns 24,522 shares of the company’s stock valued at $103,000 after buying an additional 5,300 shares during the last quarter. 56.05% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Kathy Johnson Weiler sold 283,192 shares of the company’s stock in a transaction dated Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $308,679.28. Following the transaction, the insider now owns 3,975,617 shares in the company, valued at $4,333,422.53. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, insider Kathy Johnson Weiler sold 283,192 shares of the stock in a transaction that occurred on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total value of $308,679.28. Following the transaction, the insider now owns 3,975,617 shares in the company, valued at approximately $4,333,422.53. The sale was disclosed in a filing with the SEC, which is available through this link. Also, COO Kurt Knight sold 283,079 shares of the stock in a transaction that occurred on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $308,556.11. Following the completion of the transaction, the chief operating officer now owns 3,114,004 shares in the company, valued at approximately $3,394,264.36. The disclosure for this sale can be found here. Insiders have sold a total of 1,169,038 shares of company stock worth $1,267,410 over the last 90 days. 12.94% of the stock is currently owned by corporate insiders.

American Well Stock Performance

AMWL stock opened at $0.56 on Tuesday. American Well Co. has a one year low of $0.54 and a one year high of $2.74. The firm has a market cap of $161.23 million, a price-to-earnings ratio of -0.23 and a beta of 1.00. The firm has a 50-day simple moving average of $0.95 and a two-hundred day simple moving average of $1.12.

American Well (NYSE:AMWL) last posted its quarterly earnings data on Wednesday, February 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.19) by $0.02. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The firm had revenue of $70.68 million for the quarter, compared to the consensus estimate of $70.16 million. During the same quarter in the prior year, the company posted ($0.22) earnings per share. The company’s revenue for the quarter was down 10.8% compared to the same quarter last year. As a group, equities analysts predict that American Well Co. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Separately, Morgan Stanley decreased their price target on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research report on Monday.

About American Well

American Well Corporation, an enterprise platform and software company, delivers digitally enabling hybrid care in the United States and internationally. The company offers Converge, a cloud-based platform that enables health providers, payers, and innovators to provide in-person, virtual and automated care; and delivers virtual primary care, post-discharge follow-up, chronic condition management, virtual nursing, e-sitting, on-demand and scheduled virtual visits, specialty consults, automated care, and behavioral health, as well as specialty care programs, including dermatology, musculoskeletal care, second opinion, and cardiometabolic care to patients and members.