Madison Park Capital Advisors LLC Acquires New Shares in American Well Co. (NYSE:AMWL)

Madison Park Capital Advisors LLC acquired a new stake in American Well Co. (NYSE:AMWL) during the 4th quarter, Holdings Channel.com reports. The fund acquired 22,906 shares of the company’s stock, valued at approximately $34,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in AMWL. Quadrature Capital Ltd bought a new position in American Well in the 3rd quarter valued at approximately $36,000. Vanguard Personalized Indexing Management LLC bought a new position in American Well in the 3rd quarter valued at approximately $36,000. Principal Financial Group Inc. lifted its position in American Well by 32.1% in the 3rd quarter. Principal Financial Group Inc. now owns 34,397 shares of the company’s stock valued at $40,000 after acquiring an additional 8,354 shares in the last quarter. Cito Capital Group LLC lifted its position in American Well by 35.2% in the 3rd quarter. Cito Capital Group LLC now owns 52,104 shares of the company’s stock valued at $61,000 after acquiring an additional 13,552 shares in the last quarter. Finally, Oak Thistle LLC bought a new position in American Well in the 3rd quarter valued at approximately $65,000. 56.05% of the stock is owned by institutional investors.

American Well Stock Performance

Shares of AMWL stock traded down $0.01 on Tuesday, reaching $0.54. The stock had a trading volume of 2,396,099 shares, compared to its average volume of 1,944,208. The stock has a market cap of $156.66 million, a P/E ratio of -0.23 and a beta of 1.00. American Well Co. has a 1 year low of $0.50 and a 1 year high of $2.74. The company has a 50 day simple moving average of $0.88 and a 200 day simple moving average of $1.09.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, February 14th. The company reported ($0.17) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.19) by $0.02. The firm had revenue of $70.68 million for the quarter, compared to the consensus estimate of $70.16 million. American Well had a negative return on equity of 40.19% and a negative net margin of 260.63%. The company’s revenue for the quarter was down 10.8% on a year-over-year basis. During the same period last year, the business posted ($0.22) EPS. On average, equities research analysts anticipate that American Well Co. will post -0.7 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, Morgan Stanley dropped their price target 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

In related news, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $347,943.26. Following the transaction, the chief financial officer now directly owns 2,845,148 shares of the company’s stock, valued at approximately $3,101,211.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, CFO Robert Shepardson sold 319,214 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $347,943.26. Following the transaction, the chief financial officer now directly owns 2,845,148 shares of the company’s stock, valued at approximately $3,101,211.32. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, COO Kurt Knight sold 283,079 shares of the firm’s stock in a transaction on Friday, February 23rd. The stock was sold at an average price of $1.09, for a total value of $308,556.11. Following the completion of the transaction, the chief operating officer now directly owns 3,114,004 shares in the company, valued at $3,394,264.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 1,169,038 shares of company stock valued at $1,267,410. 12.94% of the stock is owned by company insiders.

American Well Company Profile

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.