Insider Selling: American Well (NYSE:AMWL) Director Sells $85,410.00 in Stock

American Well Corporation (NYSE:AMWL) Director Stephen Schlegel sold 9,750 shares of the stock in a transaction that occurred 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 sale, the director directly owned 54,553 shares of the company’s stock, valued at $477,884.28. The trade was a 15.16% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website.

American Well Stock Down 1.0%

NYSE:AMWL opened at $8.54 on Thursday. American Well Corporation has a 52 week low of $3.71 and a 52 week high of $9.96. The firm has a 50 day moving average of $7.46 and a 200 day moving average of $5.84. The stock has a market capitalization of $141.25 million, a price-to-earnings ratio of -1.57 and a beta of 1.69.

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

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Truist Financial set a $7.50 target price on shares of American Well in a report on Monday, June 8th. Wall Street Zen raised shares of American Well from a “sell” rating to a “hold” rating in a report on Sunday, March 22nd. Morgan Stanley raised their target price on shares of American Well from $6.00 to $6.50 and gave the stock an “equal weight” rating in a report on Wednesday, May 6th. Finally, TD Cowen raised their target price on shares of American Well from $5.00 to $8.00 and gave the stock a “hold” rating in a report on Wednesday, May 6th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $7.20.

Institutional Trading of American Well

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Headlands Technologies LLC acquired a new stake in American Well during the second quarter valued at $39,000. Occudo Quantitative Strategies LP acquired a new stake in American Well during the fourth quarter valued at $74,000. NewEdge Advisors LLC acquired a new stake in American Well during the fourth quarter valued at $82,000. Prelude Capital Management LLC acquired a new stake in American Well during the third quarter valued at $86,000. Finally, Engineers Gate Manager LP acquired a new stake in shares of American Well in the second quarter valued at about $101,000. Institutional investors and hedge funds own 56.05% of the company’s stock.

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.