Readystate Asset Management LP Increases Stock Holdings in AMN Healthcare Services Inc $AMN

Readystate Asset Management LP grew its stake in shares of AMN Healthcare Services Inc (NYSE:AMN) by 127.5% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 79,115 shares of the company’s stock after purchasing an additional 44,337 shares during the quarter. Readystate Asset Management LP’s holdings in AMN Healthcare Services were worth $1,451,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Royal Bank of Canada grew its position in shares of AMN Healthcare Services by 18.9% in the 1st quarter. Royal Bank of Canada now owns 55,755 shares of the company’s stock valued at $1,023,000 after buying an additional 8,859 shares during the last quarter. Empowered Funds LLC lifted its position in AMN Healthcare Services by 411.6% in the first quarter. Empowered Funds LLC now owns 268,007 shares of the company’s stock valued at $4,915,000 after acquiring an additional 215,623 shares during the last quarter. Quantinno Capital Management LP lifted its position in AMN Healthcare Services by 248.8% in the first quarter. Quantinno Capital Management LP now owns 54,938 shares of the company’s stock valued at $1,008,000 after acquiring an additional 39,187 shares during the last quarter. Lazard Asset Management LLC acquired a new position in AMN Healthcare Services in the first quarter valued at $203,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its stake in AMN Healthcare Services by 175.5% in the first quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 302,174 shares of the company’s stock valued at $5,542,000 after acquiring an additional 192,510 shares in the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

Insiders Place Their Bets

In related news, Director Mark G. Foletta sold 3,681 shares of AMN Healthcare Services stock in a transaction on Monday, June 15th. The shares were sold at an average price of $31.07, for a total value of $114,368.67. Following the transaction, the director directly owned 17,917 shares in the company, valued at $556,681.19. This trade represents a 17.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. 1.07% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research firms have recently commented on AMN. UBS Group lifted their target price on AMN Healthcare Services from $19.50 to $32.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 13th. Citigroup reissued a “market outperform” rating on shares of AMN Healthcare Services in a research report on Tuesday, June 23rd. Citizens Jmp restated a “market outperform” rating and set a $36.00 price target on shares of AMN Healthcare Services in a research note on Tuesday, June 23rd. Zacks Research cut AMN Healthcare Services from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, May 20th. Finally, Truist Financial increased their price objective on AMN Healthcare Services from $26.00 to $40.00 and gave the company a “buy” rating in a report on Wednesday, July 22nd. Four equities research analysts have rated the stock with a Buy rating, three have given a Hold rating and two have assigned a Sell rating to the company. Based on data from MarketBeat, AMN Healthcare Services has a consensus rating of “Hold” and an average price target of $29.00.

AMN Healthcare Services Stock Down 0.8%

AMN Healthcare Services stock opened at $34.41 on Thursday. The stock has a 50 day moving average of $31.68 and a two-hundred day moving average of $24.35. AMN Healthcare Services Inc has a twelve month low of $14.86 and a twelve month high of $36.27. The stock has a market capitalization of $1.33 billion, a price-to-earnings ratio of -39.56, a PEG ratio of 0.80 and a beta of 0.41. The company has a current ratio of 1.09, a quick ratio of 1.09 and a debt-to-equity ratio of 1.04.

AMN Healthcare Services (NYSE:AMN) last released its earnings results on Thursday, May 7th. The company reported $2.10 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.60 by $0.50. AMN Healthcare Services had a positive return on equity of 18.01% and a negative net margin of 0.95%.The business had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.23 billion. During the same quarter in the previous year, the company posted $0.45 earnings per share. The company’s revenue for the quarter was up 99.9% compared to the same quarter last year. As a group, research analysts expect that AMN Healthcare Services Inc will post 2.7 earnings per share for the current year.

AMN Healthcare Services Profile

AMN Healthcare Services, Inc (NYSE: AMN) is a leading provider of healthcare workforce solutions in the United States. The company specializes in staffing and recruitment services for a broad range of clinical and allied health professionals, including travel nurses, permanent placement of nursing staff, locum tenens physicians, and allied health personnel. In addition to direct staffing, AMN Healthcare offers comprehensive workforce management solutions such as vendor management systems (VMS), recruitment process outsourcing (RPO), and compliance and credentialing services through its technology platforms.

Founded in 1985 as American Mobile Nurses, the company rebranded to AMN Healthcare in 2010 to reflect its expanding portfolio of services.