AMN Healthcare Services, Inc. (NYSE:AMN) Sees Significant Decrease in Short Interest

AMN Healthcare Services, Inc. (NYSE:AMN) was the recipient of a large decrease in short interest in the month of October. As of October 31st, there was short interest totalling 4,200,000 shares, a decrease of 18.6% from the October 15th total of 5,160,000 shares. Currently, 11.1% of the shares of the company are short sold. Based on an average daily trading volume, of 896,100 shares, the days-to-cover ratio is presently 4.7 days.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on AMN. Bank of America lowered shares of AMN Healthcare Services from a “neutral” rating to an “underperform” rating and cut their target price for the company from $65.00 to $48.00 in a research report on Monday, October 7th. StockNews.com downgraded shares of AMN Healthcare Services from a “hold” rating to a “sell” rating in a research report on Wednesday, July 31st. 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. Jefferies Financial Group cut their price target on AMN Healthcare Services from $41.00 to $27.00 and set a “hold” rating for the company in a report on Wednesday. Finally, Benchmark reaffirmed a “hold” rating on shares of AMN Healthcare Services in a research note on Wednesday, October 2nd. Two equities research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat, AMN Healthcare Services currently has an average rating of “Hold” and an average target price of $48.33.

AMN Healthcare Services Price Performance

NYSE:AMN opened at $23.70 on Friday. The business’s 50-day simple moving average is $39.51 and its two-hundred day simple moving average is $49.85. AMN Healthcare Services has a 52 week low of $23.37 and a 52 week high of $80.22. The stock has a market cap of $902.26 million, a PE ratio of 17.17 and a beta of 0.13. The company has a quick ratio of 1.23, a current ratio of 1.18 and a debt-to-equity ratio of 1.27.

AMN Healthcare Services (NYSE:AMN) last posted its quarterly earnings results on Thursday, November 7th. The company reported $0.61 earnings per share for the quarter, topping the consensus estimate of $0.58 by $0.03. AMN Healthcare Services had a return on equity of 17.16% and a net margin of 1.73%. The business had revenue of $687.51 million during the quarter, compared to the consensus estimate of $670.08 million. During the same period in the prior year, the company posted $1.97 EPS. As a group, analysts forecast that AMN Healthcare Services will post 3.09 EPS for the current fiscal year.

Insider Activity

In other AMN Healthcare Services news, CFO Jeffrey R. Knudson sold 2,461 shares of the business’s stock in a transaction dated 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 sale, the chief financial officer now directly owns 37,550 shares in the company, valued at $1,385,595. The trade was a 6.15 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Insiders own 0.93% of the company’s stock.

Institutional Trading of AMN Healthcare Services

Several hedge funds have recently bought and sold shares of AMN. Truvestments Capital LLC bought a new stake in shares of AMN Healthcare Services in the third quarter worth about $30,000. Mather Group LLC. purchased a new position in AMN Healthcare Services during the 2nd quarter valued at approximately $31,000. Nisa Investment Advisors LLC increased its stake in AMN Healthcare Services by 41.4% in the 2nd quarter. Nisa Investment Advisors LLC now owns 748 shares of the company’s stock worth $38,000 after acquiring an additional 219 shares during the last quarter. GAMMA Investing LLC raised its holdings in shares of AMN Healthcare Services by 232.4% during the 2nd quarter. GAMMA Investing LLC now owns 1,160 shares of the company’s stock worth $59,000 after acquiring an additional 811 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its position in shares of AMN Healthcare Services by 455.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,493 shares of the company’s stock valued at $63,000 after acquiring an additional 1,224 shares during the last quarter. Hedge funds and other institutional investors own 99.23% of the company’s stock.

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.