AMN Healthcare Services, Inc. (NYSE:AMN) Sees Large Drop in Short Interest

AMN Healthcare Services, Inc. (NYSE:AMN) was the recipient of a significant decline in short interest in November. As of November 30th, there was short interest totalling 4,070,000 shares, a decline of 7.1% from the November 15th total of 4,380,000 shares. Approximately 10.8% of the shares of the company are short sold. Based on an average daily trading volume, of 1,060,000 shares, the short-interest ratio is presently 3.8 days.

AMN Healthcare Services Trading Down 3.9 %

Shares of AMN traded down $1.00 during trading hours on Tuesday, hitting $24.48. 773,746 shares of the stock traded hands, compared to its average volume of 851,543. The firm has a market capitalization of $932.05 million, a PE ratio of 18.18 and a beta of 0.04. AMN Healthcare Services has a 1-year low of $23.37 and a 1-year high of $80.22. The company has a current ratio of 1.18, a quick ratio of 1.18 and a debt-to-equity ratio of 1.27. The business has a fifty day moving average of $32.53 and a 200-day moving average of $45.11.

AMN Healthcare Services (NYSE:AMN) last issued its quarterly earnings results on Thursday, November 7th. The company reported $0.61 EPS for the quarter, topping the consensus estimate of $0.58 by $0.03. AMN Healthcare Services had a net margin of 1.73% and a return on equity of 17.16%. The company had revenue of $687.51 million during the quarter, compared to analysts’ expectations of $670.08 million. During the same quarter in the previous year, the company earned $1.97 EPS. Analysts expect that AMN Healthcare Services will post 3.07 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Jeffrey R. Knudson sold 2,461 shares of the firm’s stock in a transaction that occurred on Saturday, November 2nd. The stock was sold at an average price of $36.90, for a total transaction of $90,810.90. Following the completion of the transaction, the chief financial officer now owns 37,550 shares in the company, valued at $1,385,595. This trade represents a 6.15 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.93% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. FMR LLC raised its stake in AMN Healthcare Services by 152.4% during the 3rd quarter. FMR LLC now owns 4,640,599 shares of the company’s stock worth $196,715,000 after buying an additional 2,801,663 shares during the period. Pacer Advisors Inc. bought a new position in AMN Healthcare Services in the second quarter valued at $99,349,000. State Street Corp increased its position in shares of AMN Healthcare Services by 1.1% in the third quarter. State Street Corp now owns 1,520,429 shares of the company’s stock valued at $64,451,000 after acquiring an additional 16,075 shares during the last quarter. Thrivent Financial for Lutherans increased its position in shares of AMN Healthcare Services by 2.4% during the 3rd quarter. Thrivent Financial for Lutherans now owns 1,293,483 shares of the company’s stock worth $54,831,000 after purchasing an additional 30,157 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its position in AMN Healthcare Services by 23.6% during the third quarter. Vaughan Nelson Investment Management L.P. now owns 1,096,965 shares of the company’s stock worth $46,499,000 after acquiring an additional 209,180 shares in the last quarter. Institutional investors and hedge funds own 99.23% of the company’s stock.

Wall Street Analysts Forecast Growth

AMN has been the topic of several research analyst reports. JMP Securities decreased their price objective on shares of AMN Healthcare Services from $66.00 to $57.00 and set a “market outperform” rating on the stock in a research note on Tuesday, October 22nd. William Blair lowered AMN Healthcare Services from an “outperform” rating to a “market perform” rating in a research report on Friday, November 8th. Jefferies Financial Group cut their price objective on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a research report on Wednesday, November 13th. BMO Capital Markets decreased their target price on AMN Healthcare Services from $50.00 to $46.00 and set an “outperform” rating on the stock in a report on Monday, November 11th. Finally, Bank of America cut AMN Healthcare Services from a “neutral” rating to an “underperform” rating and cut their price target for the company from $65.00 to $48.00 in a report on Monday, October 7th. Two research analysts have rated the stock with a sell rating, four have assigned a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.33.

AMN Healthcare Services Company Profile

AMN Healthcare Services, Inc provides healthcare workforce solutions and staffing services to healthcare facilities in the United States. It operates through three segments: Nurse and Allied Solutions, Physician and Leadership Solutions, and Technology and Workforce Solutions. The Nurse and Allied Solutions segment offers travel nurse staffing, labor disruption staffing, local staffing, international nurse and allied permanent placement, and allied staffing solutions.