Rock Point Advisors LLC Sells 5,377 Shares of American Well Corporation (NYSE:AMWL)

Rock Point Advisors LLC reduced its holdings in shares of American Well Corporation (NYSE:AMWL) by 3.7% during the 1st quarter, Holdings Channel.com reports. The fund owned 140,746 shares of the company’s stock after selling 5,377 shares during the period. Rock Point Advisors LLC’s holdings in American Well were worth $1,109,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in AMWL. Takeda Pharmaceutical Co. Ltd. acquired a new stake in shares of American Well in the fourth quarter valued at about $564,000. Senvest Management LLC boosted its holdings in shares of American Well by 3.9% in the 4th quarter. Senvest Management LLC now owns 1,300,611 shares of the company’s stock worth $9,429,000 after buying an additional 48,800 shares during the last quarter. Norges Bank purchased a new stake in shares of American Well during the 4th quarter valued at approximately $204,000. Two Sigma Investments LP grew its position in shares of American Well by 12.3% during the 4th quarter. Two Sigma Investments LP now owns 19,216 shares of the company’s stock valued at $139,000 after purchasing an additional 2,102 shares in the last quarter. Finally, Jane Street Group LLC raised its position in shares of American Well by 21.9% during the 4th quarter. Jane Street Group LLC now owns 19,260 shares of the company’s stock valued at $140,000 after buying an additional 3,462 shares in the last quarter. Institutional investors and hedge funds own 56.05% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Truist Financial reduced their target price on American Well from $12.00 to $7.50 and set a “hold” rating on the stock in a research note on Thursday, April 10th. Needham & Company LLC reiterated a “hold” rating on shares of American Well in a research note on Friday, May 2nd. Piper Sandler reiterated a “neutral” rating and issued a $8.00 price target (down previously from $10.00) on shares of American Well in a research note on Friday, May 23rd. UBS Group decreased their price target on American Well from $12.00 to $9.00 and set a “neutral” rating on the stock in a report on Thursday, May 8th. Finally, Stifel Nicolaus decreased their target price on American Well from $10.00 to $8.00 and set a “hold” rating for the company in a research report on Friday, May 2nd. Six analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $9.67.

Insider Transactions at American Well

In other American Well news, insider Phyllis Gotlib sold 4,958 shares of the stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $8.63, for a total transaction of $42,787.54. Following the sale, the insider directly owned 136,891 shares of the company’s stock, valued at approximately $1,181,369.33. This trade represents a 3.50% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Over the last ninety days, insiders have sold 10,184 shares of company stock worth $78,000. Company insiders own 11.82% of the company’s stock.

American Well Stock Up 1.1%

NYSE:AMWL opened at $8.58 on Thursday. American Well Corporation has a 52 week low of $6.01 and a 52 week high of $12.95. The stock has a market capitalization of $133.93 million, a price-to-earnings ratio of -0.84 and a beta of 1.29. The firm has a 50 day moving average of $7.33 and a 200 day moving average of $8.26.

American Well (NYSE:AMWL) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($1.73) EPS for the quarter, topping analysts’ consensus estimates of ($3.09) by $1.36. American Well had a negative return on equity of 48.36% and a negative net margin of 59.13%. The company had revenue of $66.83 million during the quarter, compared to analysts’ expectations of $60.15 million. As a group, analysts expect that American Well Corporation will post -9.34 EPS for the current year.

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.