Senvest Management LLC Purchases 773,834 Shares of American Well Corporation $AMWL

Senvest Management LLC boosted its position in shares of American Well Corporation (NYSE:AMWL) by 213.3% in the first quarter, Holdings Channel reports. The fund owned 1,136,558 shares of the company’s stock after acquiring an additional 773,834 shares during the period. Senvest Management LLC owned 0.07% of American Well worth $5,978,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of the company. Hsbc Holdings PLC grew its position in shares of American Well by 186.6% in the fourth quarter. Hsbc Holdings PLC now owns 46,565 shares of the company’s stock valued at $224,000 after purchasing an additional 30,316 shares during the last quarter. NewEdge Advisors LLC acquired a new position in shares of American Well during the 4th quarter worth about $82,000. XTX Topco Ltd acquired a new position in shares of American Well during the 4th quarter worth about $215,000. Occudo Quantitative Strategies LP bought a new stake in American Well during the 4th quarter valued at approximately $74,000. Finally, Squarepoint Ops LLC boosted its stake in American Well by 74.5% during the 4th quarter. Squarepoint Ops LLC now owns 115,061 shares of the company’s stock valued at $565,000 after purchasing an additional 49,135 shares during the period. 56.05% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of research firms have issued reports on AMWL. TD Cowen raised their target price on American Well from $5.00 to $8.00 and gave the company a “hold” rating in a report on Wednesday, May 6th. Morgan Stanley increased their price objective on American Well from $6.00 to $6.50 and gave the company an “equal weight” rating in a research report on Wednesday, May 6th. Truist Financial set a $7.50 price objective on shares of American Well in a research note on Monday, June 8th. Wells Fargo & Company boosted their target price on shares of American Well from $9.00 to $16.00 and gave the stock an “overweight” rating in a research report on Friday, July 17th. Finally, Weiss Ratings reiterated a “sell (d-)” rating on shares of American Well in a research note on Friday, July 17th. One equities research analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $8.60.

Insider Activity

In other news, insider Dmitry Zamansky sold 8,460 shares of the business’s stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $9.33, for a total transaction of $78,931.80. Following the sale, the insider directly owned 232,620 shares in the company, valued at approximately $2,170,344.60. The trade was a 3.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Phyllis Gotlib sold 6,677 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $9.33, for a total value of $62,296.41. Following the completion of the transaction, the insider owned 152,754 shares of the company’s stock, valued at $1,425,194.82. The trade was a 4.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 29,225 shares of company stock worth $268,623. Company insiders own 12.84% of the company’s stock.

American Well Stock Up 0.4%

AMWL stock opened at $10.81 on Friday. American Well Corporation has a twelve month low of $3.71 and a twelve month high of $13.45. The company has a market cap of $178.94 million, a PE ratio of -1.99 and a beta of 1.69. The business’s 50-day simple moving average is $9.29 and its 200 day simple moving average is $6.86.

American Well (NYSE:AMWL) last posted its quarterly earnings results on Tuesday, May 5th. The company reported ($0.66) EPS for the quarter, beating the consensus estimate of ($0.77) by $0.11. American Well had a negative return on equity of 32.11% and a negative net margin of 37.02%.The firm had revenue of $54.88 million during the quarter, compared to analysts’ expectations of $51.54 million. On average, equities research analysts anticipate that American Well Corporation will post -2.68 EPS for the current year.

About American Well

American Well, operating under the trade name Amwell, is a Boston-based digital health company that develops and delivers telehealth solutions to healthcare providers, payers, employers and patients. Through its cloud-based platform, the company enables secure virtual visits, remote patient monitoring and integrated care coordination across a range of medical disciplines, including primary care, behavioral health, chronic disease management and urgent care.

The company’s core offering, the Amwell Telehealth Platform, facilitates live video consultations, asynchronous messaging, e-prescribing and electronic health record integration.