AMN AMN HEALTHCARE SERVICES INC
Executive Summary
An institutional cluster in AMN shows mixed conviction: 4 quant/mega-passive buyers accumulated $39.9M (Morgan Stanley, D.E. Shaw, RenTech, Point72) while 5 sellers, dominated by Fidelity's near-full exit of $49.3M, pulled $51.7M out. The net $11.8M outflow and Fidelity's aggressive exit suggest underlying sector or fundamental concerns, partially offset by quant bottom-fishing.
Key Financial Metrics
Institutional Positions
Net institutional flow: -$11.8M
▲ Buyers (4)
| Institution | Action | Change | Position Value | Value Δ |
|---|---|---|---|---|
| Morgan Stanley | ADD | +87.4% | $30.0M | $12.9M |
| D.E. Shaw | ADD | +55.1% | $25.4M | $7.9M |
| RenTech | ADD | +75.5% | $14.6M | $5.7M |
| Point72 | NEW | +0% | $13.4M | $13.4M |
▼ Sellers (5)
| Institution | Action | Change | Prev Value | Value Δ |
|---|---|---|---|---|
| Fidelity | NEAR_EXIT | -99.8% | $49.4M | -$49.3M |
| UBS | TRIM | -34.1% | $11.5M | -$4.4M |
| Ubs Am, A Distinct Business Un | TRIM | -34.3% | $2.9M | -$1.1M |
| Barclays | TRIM | -50.5% | — | $6.1M |
| Nuveen | TRIM | -55.9% | $5.2M | -$3.0M |
Actionable Insight
The cluster reveals severe disagreement: Fidelity's near-total exit is a strong caution flag, while quant buyers are positioning for a mean-reversion or catalyst. A market cap of just $1.1M for AMN appears implausibly low—if confirmed, the risk/reward of holding with Fidelity's exit history is poor. If market cap is ~$1.1B, the ~$100M of disclosed institutional activity represents ~9% of float, a notable signal. Watch for any 13D or earnings catalyst that explains the quant appetite.
Key Facts
- Net institutional outflows of ~$11.8M from 4 buyers ($39.9M in) vs 5 sellers ($51.7M out) in Q3 2025
- Fidelity nearly exited its entire 2.39M-share position ($49.4M → $85K), a -99.8% reduction
- Point72 established a new $13.4M position, while Morgan Stanley, D.E. Shaw, and RenTech added meaningfully
- Active/quant managers (D.E. Shaw, RenTech, Point72) accounted for 67% of the buying conviction
Financial Impact
Aggregate institutional activity: 4 buyers accumulated $39.9M gross while 5 sellers reduced by $51.7M, resulting in net outflow of $11.8M. Fidelity's near-exit alone accounted for $49.3M of the selling.
Risk Factors
- Fidelity's near-exit suggests a fundamental thesis break or risk-off decision by a large holder — high conviction downside signal
- Quant buying may be purely statistical and could reverse quickly if no catalyst emerges
- The 45-day 13F reporting lag means positions may already be unwound
Market Snapshot
Documents Analyzed
This report is based on 1 institutional 13F filing from SEC EDGAR.
| Document | Accession Number |
|---|---|
| INST-CLUSTER Data (Synthetic) | inst-cluster-AMN-2025-Q3 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
|
Jun 11, 2026
1d ago
|
Institutional Cluster
| $30.38 awaiting T+20 | awaiting T+20 | — | — |
|
May 4, 2026
5w ago
|
8-K
| $20.72 $29.34 | ▲ +41.60% | ▲ +35.96% | — |
|
Apr 9, 2026
9w ago
|
Press Release
| $18.49 $20.97 | ▼ −13.41% | ▼ −5.84% | — |
|
Mar 18, 2026
12w ago
|
DEFA14A
| $17.93 $20.45 | ▲ +14.05% | ▲ +8.01% | — |
|
Feb 28, 2026
15w ago
|
Institutional Cluster
| $20.40 $18.73 | ▼ −8.19% | ▼ −0.25% | — |
US Market Status
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