American Well Co. (NYSE:AMWL) Shares Sold by Marshall Wace LLP

Marshall Wace LLP trimmed its holdings in shares of American Well Co. (NYSE:AMWL) by 58.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,007 shares of the company’s stock after selling 25,241 shares during the quarter. Marshall Wace LLP owned approximately 0.12% of American Well worth $131,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Compagnie Lombard Odier SCmA purchased a new stake in shares of American Well during the fourth quarter worth approximately $45,000. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of American Well in the fourth quarter valued at about $564,000. Norges Bank purchased a new position in shares of American Well in the fourth quarter worth about $204,000. Geode Capital Management LLC grew its stake in American Well by 0.6% during the 4th quarter. Geode Capital Management LLC now owns 147,925 shares of the company’s stock valued at $1,073,000 after acquiring an additional 922 shares in the last quarter. Finally, Senvest Management LLC raised its holdings in American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock valued at $9,429,000 after acquiring an additional 48,800 shares during the last quarter. Hedge funds and other institutional investors own 56.05% of the company’s stock.

American Well Trading Down 7.7 %

NYSE:AMWL opened at $6.75 on Wednesday. American Well Co. has a 12-month low of $5.00 and a 12-month high of $12.95. The firm has a market cap of $105.37 million, a PE ratio of -0.48 and a beta of 1.22. The stock has a fifty day moving average price of $7.58 and a 200 day moving average price of $8.78.

American Well (NYSE:AMWL) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($1.73) EPS for the quarter, topping analysts’ consensus estimates of ($3.09) by $1.36. The business had revenue of $66.83 million during the quarter, compared to the consensus estimate of $60.15 million. American Well had a negative return on equity of 56.73% and a negative net margin of 81.83%. Equities analysts forecast that American Well Co. will post -9.34 EPS for the current year.

Insider Buying and Selling at American Well

In related news, insider Phyllis Gotlib sold 4,781 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $8.80, for a total value of $42,072.80. Following the transaction, the insider now owns 147,998 shares of the company’s stock, valued at $1,302,382.40. This represents a 3.13 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 12.80% of the company’s stock.

Wall Street Analysts Forecast Growth

AMWL has been the topic of a number of analyst reports. Wells Fargo & Company upgraded American Well from an “equal weight” rating to an “overweight” rating and set a $15.00 price objective on the stock in a research report on Monday, January 13th. Needham & Company LLC reissued a “hold” rating on shares of American Well in a research report on Friday, May 2nd. Stifel Nicolaus cut their price objective on shares of American Well from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, May 2nd. Finally, Truist Financial decreased their target price on shares of American Well from $12.00 to $7.50 and set a “hold” rating on the stock in a report on Thursday, April 10th. Five investment analysts have rated the stock with a hold rating and one has assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $10.60.

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.