SG Americas Securities LLC Boosts Holdings in American Well Co. (NYSE:AMWL)

SG Americas Securities LLC lifted its stake in American Well Co. (NYSE:AMWL) by 58.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 107,696 shares of the company’s stock after purchasing an additional 39,655 shares during the period. SG Americas Securities LLC’s holdings in American Well were worth $160,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Moneta Group Investment Advisors LLC purchased a new stake in shares of American Well in the 4th quarter worth about $501,952,000. Senvest Management LLC lifted its position in shares of American Well by 3.7% in the 3rd quarter. Senvest Management LLC now owns 23,022,624 shares of the company’s stock worth $26,936,000 after purchasing an additional 813,244 shares during the period. BlackRock Inc. lifted its position in shares of American Well by 6.6% in the 2nd quarter. BlackRock Inc. now owns 21,268,892 shares of the company’s stock worth $44,665,000 after purchasing an additional 1,319,202 shares during the period. Vanguard Group Inc. lifted its position in shares of American Well by 6.3% in the 3rd quarter. Vanguard Group Inc. now owns 19,054,471 shares of the company’s stock worth $68,405,000 after purchasing an additional 1,129,172 shares during the period. Finally, State Street Corp lifted its position in shares of American Well by 1.9% in the 1st quarter. State Street Corp now owns 6,112,889 shares of the company’s stock worth $14,426,000 after purchasing an additional 112,631 shares during the period. 56.05% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other American Well news, CFO Robert Shepardson sold 319,214 shares of the firm’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 $347,943.26. Following the completion of the sale, the chief financial officer now directly owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other American Well news, CFO Robert Shepardson sold 319,214 shares of the firm’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 $347,943.26. Following the completion of the sale, the chief financial officer now directly owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Kathy Johnson Weiler sold 283,192 shares of the firm’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 sale, the insider now owns 3,975,617 shares of the company’s stock, valued at $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 worth $1,267,410 in the last three months. 12.94% of the stock is owned by corporate insiders.

Analyst Ratings Changes

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 note on Monday.

American Well Price Performance

Shares of American Well stock opened at $0.56 on Tuesday. The company has a 50-day moving average of $0.95 and a 200 day moving average of $1.12. The firm has a market cap of $161.23 million, a price-to-earnings ratio of -0.23 and a beta of 1.00. American Well Co. has a 1 year low of $0.54 and a 1 year high of $2.74.

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 company had revenue of $70.68 million during the quarter, compared to analyst estimates of $70.16 million. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. American Well’s quarterly revenue was down 10.8% compared to the same quarter last year. During the same period last year, the business earned ($0.22) EPS. On average, equities analysts anticipate that American Well Co. will post -0.7 EPS for the current year.

American Well Company 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.