Home Hedge Funds Is AMN Healthcare Services (AMN) Providing a Compelling Investment Opportunity?

Is AMN Healthcare Services (AMN) Providing a Compelling Investment Opportunity?

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ClearBridge Investments, an investment management company, released its “ClearBridge Small Cap Value Strategy” fourth quarter 2023 investor letter. A copy of the same can be downloaded here. The strategy underperformed the benchmark Russell 2000 Value Index in the fourth quarter. The strategy generated gains across eight of the 11 sectors in which it was invested during the quarter, on an absolute basis. Overall sector allocation and stock selection effects detracted from the performance on a relative basis. In addition, please check the fund’s top five holdings to know its best picks in 2023.

ClearBridge Small Cap Value Strategy featured stocks like AMN Healthcare Services, Inc. (NYSE:AMN) in the Q4 2023 investor letter. Headquartered in Dallas, Texas, AMN Healthcare Services, Inc. (NYSE:AMN) is a healthcare workforce solutions and staffing services provider. On March 14, 2024, AMN Healthcare Services, Inc. (NYSE:AMN) stock closed at $57.33 per share. One-month return of AMN Healthcare Services, Inc. (NYSE:AMN) was -7.07%, and its shares lost 31.31% of their value over the last 52 weeks. AMN Healthcare Services, Inc. (NYSE:AMN) has a market capitalization of $2.172 billion.

ClearBridge Small Cap Value Strategy stated the following regarding AMN Healthcare Services, Inc. (NYSE:AMN) in its fourth quarter 2023 investor letter:

“We added AMN Healthcare Services, Inc. (NYSE:AMN), which provides health care workforce solutions and staffing services to hospitals and health care facilities. We believe the company’s current stock price represents a compelling investment opportunity as it overestimates a level of cyclical decline in staffing, particularly when compared to the normalization of health care service demand, the relatively high age distribution of existing health care providers and the company’s exciting new initiatives in areas such as language services.”

A healthcare professional in scrubs, busy at work at a hospital.

AMN Healthcare Services, Inc. (NYSE:AMN) is not on our list of 30 Most Popular Stocks Among Hedge Funds. At the end of the fourth quarter, AMN Healthcare Services, Inc. (NYSE:AMN) was held by 27 hedge fund portfolios, compared to 20 in the previous quarter, according to our database.

We discussed AMN Healthcare Services, Inc. (NYSE:AMN) in another article and shared the list of mid-cap stocks with insider purchases. In addition, please check out our hedge fund investor letters Q4 2023 page for more investor letters from hedge funds and other leading investors.

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Disclosure: None. This article is originally published at Insider Monkey.

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