Mirae Asset Global Investments Co. Ltd. Lowers Position in American Well Co. (NYSE:AMWL)

Mirae Asset Global Investments Co. Ltd. decreased its position in American Well Co. (NYSE:AMWL) by 17.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 472,432 shares of the company’s stock after selling 102,533 shares during the period. Mirae Asset Global Investments Co. Ltd. owned about 0.16% of American Well worth $704,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. SG Americas Securities LLC boosted its holdings in shares of American Well by 58.3% in the fourth quarter. SG Americas Securities LLC now owns 107,696 shares of the company’s stock valued at $160,000 after acquiring an additional 39,655 shares in the last quarter. GSA Capital Partners LLP boosted its holdings in American Well by 75.5% during the third quarter. GSA Capital Partners LLP now owns 716,830 shares of the company’s stock worth $839,000 after buying an additional 308,418 shares in the last quarter. Cito Capital Group LLC boosted its holdings in American Well by 35.2% during the third quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock worth $61,000 after buying an additional 13,552 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in American Well during the third quarter worth about $36,000. Finally, Senvest Management LLC boosted its holdings in American Well by 3.7% during the third quarter. Senvest Management LLC now owns 23,022,624 shares of the company’s stock worth $26,936,000 after buying an additional 813,244 shares in the last quarter. Hedge funds and other institutional investors own 56.05% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley decreased their price objective on American Well from $1.75 to $1.00 and set an “equal weight” rating on the stock in a research note on Monday, April 15th.

Insider Buying and Selling at American Well

In other news, EVP Vukasin Paunovich sold 251,323 shares of the business’s stock in a transaction on Friday, February 23rd. The shares were sold at an average price of $1.09, for a total transaction of $273,942.07. Following the completion of the transaction, the executive vice president now owns 2,535,635 shares of the company’s stock, valued at $2,763,842.15. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other American Well news, CFO Robert Shepardson sold 319,214 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1.09, for a total transaction of $347,943.26. Following the sale, the chief financial officer now owns 2,845,148 shares in the company, valued at approximately $3,101,211.32. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Vukasin Paunovich sold 251,323 shares of the business’s stock in a transaction dated Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $273,942.07. Following the sale, the executive vice president now owns 2,535,635 shares in the company, valued at approximately $2,763,842.15. The disclosure for this sale can be found here. Insiders sold a total of 1,169,038 shares of company stock worth $1,267,410 over the last 90 days. Insiders own 12.94% of the company’s stock.

American Well Stock Performance

AMWL opened at $0.53 on Thursday. The stock has a market capitalization of $153.65 million, a PE ratio of -0.22 and a beta of 0.99. American Well Co. has a 1 year low of $0.50 and a 1 year high of $2.74. The company’s 50 day simple moving average is $0.87 and its 200 day simple moving average is $1.09.

American Well (NYSE:AMWL) last posted its earnings results on Wednesday, February 14th. The company reported ($0.17) EPS for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The business had revenue of $70.68 million for the quarter, compared to analysts’ expectations of $70.16 million. American Well had a negative net margin of 260.63% and a negative return on equity of 40.19%. The business’s revenue for the quarter was down 10.8% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.22) earnings per share. As a group, sell-side analysts expect that American Well Co. will post -0.7 earnings per share for the current fiscal 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.