Bray Capital Advisors Sells 190,000 Shares of American Well Co. (NYSE:AMWL)

Bray Capital Advisors cut its position in American Well Co. (NYSE:AMWL - Free Report) by 95.0% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 10,000 shares of the company's stock after selling 190,000 shares during the period. Bray Capital Advisors owned 0.07% of American Well worth $95,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Renaissance Technologies LLC raised its holdings in shares of American Well by 63.9% in the second quarter. Renaissance Technologies LLC now owns 6,833,500 shares of the company's stock valued at $2,220,000 after buying an additional 2,665,300 shares during the last quarter. Acadian Asset Management LLC raised its stake in shares of American Well by 80.5% in the second quarter. Acadian Asset Management LLC now owns 3,761,310 shares of the company's stock worth $1,220,000 after acquiring an additional 1,677,505 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of American Well during the first quarter worth approximately $1,284,000. AQR Capital Management LLC increased its holdings in shares of American Well by 28.1% in the second quarter. AQR Capital Management LLC now owns 1,895,730 shares of the company's stock valued at $616,000 after purchasing an additional 416,387 shares in the last quarter. Finally, Point72 Asia Singapore Pte. Ltd. increased its holdings in shares of American Well by 2,690.2% in the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 419,841 shares of the company's stock valued at $136,000 after purchasing an additional 404,794 shares in the last quarter. 56.05% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on AMWL shares. Needham & Company LLC reiterated a "hold" rating on shares of American Well in a research report on Thursday, October 31st. Wells Fargo & Company decreased their price target on American Well from $40.00 to $15.00 and set an "equal weight" rating on the stock in a report on Tuesday, August 6th.

Insiders Place Their Bets

In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the company's stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $7.87, for a total value of $57,183.42. Following the completion of the sale, the insider now owns 188,027 shares of the company's stock, valued at approximately $1,479,772.49. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other American Well news, insider Kathy Johnson Weiler sold 7,266 shares of the business's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $57,183.42. Following the completion of the transaction, the insider now directly owns 188,027 shares of the company's stock, valued at approximately $1,479,772.49. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Robert Shepardson sold 5,177 shares of the firm's stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $7.87, for a total value of $40,742.99. Following the sale, the chief financial officer now directly owns 112,992 shares in the company, valued at approximately $889,247.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,640 shares of company stock worth $173,939. Insiders own 12.80% of the company's stock.

American Well Price Performance

AMWL traded down $0.19 during trading on Friday, reaching $8.79. 53,138 shares of the company's stock were exchanged, compared to its average volume of 41,849. The company's fifty day moving average price is $9.41 and its 200-day moving average price is $8.90. American Well Co. has a fifty-two week low of $5.00 and a fifty-two week high of $31.60.

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.