Thrivent Financial for Lutherans Takes $1.10 Million Position in American Well Co. (NYSE:AMWL)

Thrivent Financial for Lutherans purchased a new stake in American Well Co. (NYSE:AMWL) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 87,508 shares of the company’s stock, valued at approximately $1,101,000.

Several other institutional investors and hedge funds also recently bought and sold shares of AMWL. Nisa Investment Advisors LLC acquired a new stake in shares of American Well in the 2nd quarter valued at approximately $64,000. Captrust Financial Advisors acquired a new stake in shares of American Well in the 1st quarter valued at approximately $65,000. Advisory Services Network LLC acquired a new stake in shares of American Well in the 2nd quarter valued at approximately $101,000. NEXT Financial Group Inc boosted its stake in shares of American Well by 30.1% in the 2nd quarter. NEXT Financial Group Inc now owns 8,785 shares of the company’s stock valued at $111,000 after purchasing an additional 2,031 shares in the last quarter. Finally, Xponance Inc. acquired a new stake in shares of American Well in the 2nd quarter valued at approximately $134,000. Institutional investors own 40.81% of the company’s stock.

American Well stock opened at $6.86 on Thursday. American Well Co. has a 52-week low of $6.48 and a 52-week high of $43.75. The firm has a 50 day moving average price of $8.86 and a two-hundred day moving average price of $10.76.

American Well (NYSE:AMWL) last released its quarterly earnings results on Wednesday, November 10th. The company reported ($0.20) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.24) by $0.04. American Well had a negative net margin of 74.38% and a negative return on equity of 14.47%. During the same quarter last year, the business posted ($0.92) earnings per share. Analysts forecast that American Well Co. will post -0.74 earnings per share for the current year.

AMWL has been the topic of a number of research analyst reports. Morgan Stanley reduced their price target on shares of American Well from $16.00 to $12.00 and set an “overweight” rating on the stock in a research note on Friday, November 12th. They noted that the move was a valuation call. Cantor Fitzgerald assumed coverage on shares of American Well in a research report on Tuesday, September 14th. They set an “overweight” rating and a $15.00 target price on the stock. Wells Fargo & Company assumed coverage on shares of American Well in a research report on Monday, October 18th. They set an “equal weight” rating and a $8.00 target price on the stock. Cowen cut their target price on shares of American Well from $25.00 to $18.00 and set an “outperform” rating on the stock in a research report on Friday, November 12th. Finally, Credit Suisse Group cut their target price on shares of American Well from $13.50 to $11.00 and set a “neutral” rating on the stock in a research report on Thursday, November 11th. Seven investment analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, American Well has a consensus rating of “Hold” and a consensus price target of $14.36.

In other news, Director Deval L. Patrick sold 5,166 shares of American Well stock in a transaction on Tuesday, November 2nd. The shares were sold at an average price of $9.30, for a total value of $48,043.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, VP Bradford Gay sold 6,181 shares of American Well stock in a transaction on Wednesday, September 1st. The shares were sold at an average price of $10.61, for a total transaction of $65,580.41. Following the completion of the sale, the vice president now owns 702,093 shares of the company’s stock, valued at approximately $7,449,206.73. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 412,262 shares of company stock valued at $4,146,920. Company insiders own 14.68% of the company’s stock.

About American Well

American Well Corporation operates as a telehealth company that enables digital delivery of care for healthcare. Its application offers urgent care; pediatrics; therapy; menopause nutrition; menopause counseling; telestroke; population health management; telepsychiatry; pregnancy and postpartum care; pregnancy and postpartum therapy; breastfeed support; and menopause care.

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Institutional Ownership by Quarter for American Well (NYSE:AMWL)

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