Stephen Schlegel Sells 9,750 Shares of American Well (NYSE:AMWL) Stock

American Well Corporation (NYSE:AMWL) Director Stephen Schlegel sold 9,750 shares of American Well stock in a transaction on Thursday, June 11th. The shares were sold at an average price of $8.76, for a total transaction of $85,410.00. Following the completion of the sale, the director directly owned 54,553 shares of the company’s stock, valued at approximately $477,884.28. This trade represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

American Well Stock Down 3.7%

AMWL traded down $0.34 during midday trading on Monday, hitting $8.77. The company had a trading volume of 30,257 shares, compared to its average volume of 87,813. American Well Corporation has a 52 week low of $3.71 and a 52 week high of $9.96. The company has a market capitalization of $145.16 million, a price-to-earnings ratio of -1.62 and a beta of 1.69. The stock’s 50 day moving average price is $7.27 and its 200 day moving average price is $5.75.

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

Institutional Investors Weigh In On American Well

Several hedge funds and other institutional investors have recently made changes to their positions in AMWL. Headlands Technologies LLC purchased a new position in American Well during the second quarter worth about $39,000. Occudo Quantitative Strategies LP purchased a new position in American Well during the fourth quarter worth about $74,000. NewEdge Advisors LLC purchased a new position in American Well during the fourth quarter worth about $82,000. Prelude Capital Management LLC purchased a new position in American Well during the third quarter worth about $86,000. Finally, Engineers Gate Manager LP purchased a new position in American Well during the second quarter worth about $101,000. 56.05% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Truist Financial set a $7.50 target price on shares of American Well in a research report on Monday, June 8th. Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a research report on Sunday, March 22nd. Morgan Stanley boosted their target price on shares of American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a research report on Wednesday, May 6th. Finally, TD Cowen boosted their target price on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a research report on Wednesday, May 6th. One investment analyst has rated the stock with a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $7.20.

American Well Company Profile

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.