Senvest Management LLC recently announced the acquisition of new stake in American Well Corporation (NYSE:AMWL). The institutional investor has increased its shareholding in the Healthcare company by 3.66% to 23.02 million shares with purchase of 0.81 million shares. This fresh investment now brings its stake to 9.04% valued currently at $29.24 million. In addition, SSgA Funds Management, Inc. raised its holdings by 0.12 million to 6.17 million shares. And Geode Capital Management LLC has lifted its position by 4.19% or 0.21 million shares – to 5.19 million shares.
Currently, there are 244.19M common shares owned by the public and among those 227.40M shares have been available to trade.
3 Tiny Stocks Primed to Explode
The world's greatest investor — Warren Buffett — has a simple formula for making big money in the markets. He buys up valuable assets when they are very cheap. For stock market investors that means buying up cheap small cap stocks like these with huge upside potential.
We've set up an alert service to help smart investors take full advantage of the small cap stocks primed for big returns.
Click here for full details and to join for free
Sponsored
Insiders at the company have transacted a total of 79 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 14 of these insider trades were purchases, accounting for 4,857,639 shares. Insider sales of the common stock occurred on 65 occasions, with total insider shares sold totaling 2,733,405 shares.
The top 3 mutual fund holders in American Well Corporation are Vanguard Total Stock Market ETF, iShares Russell 2000 ETF, and Vanguard Extended Market Index Fu. Vanguard Total Stock Market ETF owns 6.92 million shares of the company’s stock, all valued at over $8.78 million. iShares Russell 2000 ETF bought 2892.0 shares to see its total holdings expand to 5.88 million shares valued at over $7.47 million and representing 2.31% of the shares outstanding. Vanguard Extended Market Index Fu bought 0.12 million shares to bring its total holdings to over 3.74 million shares at a value of $4.75 million. Vanguard Extended Market Index Fu now owns shares totaling to 1.47% of the shares outstanding.
However, the script later moved the day high at 1.4700, up 9.92%. The company’s stock has a 5-day price change of 22.03% and 12.50% over the past three months. AMWL shares are trading -49.12% year to date (YTD), with the 12-month market performance down to -56.36% lower. It has a 12-month low price of $0.93 and touched a high of $4.28 over the same period. AMWL has an average intraday trading volume of 1.97 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 14.20%, 20.19%, and -19.29% respectively.
Institutional ownership of American Well Corporation (NYSE: AMWL) shares accounts for 46.51% of the company’s 244.19M shares outstanding. Mutual fund holders own 33.06%, while other institutional holders and individual stakeholders account for 7.83% and 19.48% respectively.
It has a market capitalization of $414.10M and a beta (3y monthly) value of 0.98. The earnings-per-share (ttm) stands at -$2.44. Price movements for the stock have been influenced by the stock’s volatility, which stands at 10.92% over the week and 8.73% over the month.
Analysts forecast that American Well Corporation (AMWL) will achieve an EPS of -$0.2 for the current quarter, -$0.18 for the next quarter and -$0.67 for 2024. The lowest estimate earnings-per-share for the quarter is -$0.23 while analysts give the company a high EPS estimate of -$0.18. Comparatively, EPS for the current quarter was -$0.22 a year ago. Earnings per share for the fiscal year are expected to decrease by -143.12%, and 71.06% over the next financial year. EPS should grow at an annualized rate of 2.80% over the next five years, compared to -44.04% over the past 5-year period.
Looking at the support for the AMWL, a number of firms have released research notes about the stock. Morgan Stanley stated their Equal-Weight rating for the stock in a research note on August 03, 2023, with the firm’s price target at $5-$2.50.
