Mirae Asset Global Investments Co. Ltd. Has $704,000 Stock Holdings in American Well Co. (NYSE:AMWL)

Mirae Asset Global Investments Co. Ltd. cut its holdings in American Well Co. (NYSE:AMWL) by 17.8% in the fourth quarter, Holdings Channel.com reports. The fund owned 472,432 shares of the company’s stock after selling 102,533 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in American Well were worth $704,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in AMWL. Senvest Management LLC lifted its stake in American Well by 3.7% in the third quarter. Senvest Management LLC now owns 23,022,624 shares of the company’s stock valued at $26,936,000 after acquiring an additional 813,244 shares during the last quarter. GSA Capital Partners LLP lifted its stake in shares of American Well by 75.5% in the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock worth $839,000 after buying an additional 308,418 shares during the last quarter. Versor Investments LP acquired a new stake in shares of American Well in the third quarter worth $294,000. Oak Thistle LLC acquired a new stake in shares of American Well in the third quarter worth $65,000. Finally, SG Americas Securities LLC lifted its stake in shares of American Well by 143.8% in the third quarter. SG Americas Securities LLC now owns 68,041 shares of the company’s stock worth $80,000 after buying an additional 40,131 shares during the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

American Well Price Performance

Shares of American Well stock opened at $0.53 on Thursday. American Well Co. has a 52-week low of $0.50 and a 52-week high of $2.74. The company’s fifty day moving average price is $0.87 and its two-hundred day moving average price is $1.09. The firm has a market capitalization of $153.65 million, a PE ratio of -0.22 and a beta of 0.99.

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

Analyst Upgrades and Downgrades

Separately, Morgan Stanley reduced their price objective on shares of American Well from $1.75 to $1.00 and set an “equal weight” rating for the company in a research note on Monday, April 15th.

Insider Activity

In related news, insider Kathy Johnson Weiler sold 283,192 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 $308,679.28. Following the completion of the sale, the insider now directly owns 3,975,617 shares of the company’s stock, valued at approximately $4,333,422.53. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other American Well news, EVP Vukasin Paunovich sold 251,323 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $273,942.07. Following the completion of the sale, the executive vice president now owns 2,535,635 shares of the company’s stock, valued at approximately $2,763,842.15. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Kathy Johnson Weiler sold 283,192 shares of the firm’s stock in a transaction 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 sale, the insider now directly owns 3,975,617 shares of the company’s stock, valued at approximately $4,333,422.53. The disclosure for this sale can be found here. Insiders sold a total of 1,169,038 shares of company stock valued at $1,267,410 in the last ninety days. 12.94% of the stock is owned by insiders.

American Well Profile

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.