152,548 Shares in Alignment Healthcare, Inc. $ALHC Bought by Connor Clark & Lunn Investment Management Ltd.

Key Points

• Connor Clark & Lunn Investment Management acquired 152,548 Alignment Healthcare shares worth approximately $3.63 million, representing 0.07% of the company. Institutional investors and hedge funds collectively own 86.19% of ALHC.
• Company insiders sold more than 1 million shares valued at approximately $18.6 million in the last quarter, including substantial sales by CEO John E. Kao and insider Hyong Kim under pre-arranged Rule 10b5-1 plans.
• Alignment Healthcare exceeded quarterly earnings and revenue expectations, reporting $0.17 EPS and $1.34 billion in revenue, with revenue up 31.6% year over year. Analysts maintain a “Moderate Buy” consensus rating with a $23.60 average price target.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 152,548 shares of the company's stock, valued at approximately $3,632,000. Connor Clark & Lunn Investment Management Ltd. owned 0.07% of Alignment Healthcare as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. Quantbot Technologies LP bought a new position in shares of Alignment Healthcare in the 2nd quarter worth $1,660,000. William Blair Investment Management LLC bought a new position in Alignment Healthcare in the 2nd quarter valued at $184,799,000. Ieq Capital LLC bought a new position in shares of Alignment Healthcare during the 2nd quarter valued at approximately $1,129,000. Allworth Financial LP purchased a new stake in shares of Alignment Healthcare during the 2nd quarter valued at approximately $155,000. Finally, Vise Technologies Inc. bought a new stake in shares of Alignment Healthcare during the second quarter valued at about $221,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Hyong Kim sold 35,951 shares of the stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $19.86, for a total value of $713,986.86. Following the sale, the insider directly owned 331,750 shares in the company, valued at approximately $6,588,555. This represents a 9.78% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the company's stock in a transaction dated Monday, August 10th. The stock was sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the completion of the transaction, the chief executive officer owned 790,766 shares in the company, valued at approximately $10,975,832.08. The trade was a 27.37% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. 5.20% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Up 0.4%

Shares of ALHC stock opened at $13.62 on Friday. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 1.22. Alignment Healthcare, Inc. has a 12 month low of $12.70 and a 12 month high of $25.12. The stock has a market cap of $2.83 billion, a P/E ratio of 71.69 and a beta of 1.10. The company has a 50 day simple moving average of $18.09 and a two-hundred day simple moving average of $18.53.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to analysts' expectations of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. Alignment Healthcare's revenue for the quarter was up 31.6% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 EPS. On average, research analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analyst Weigh In

ALHC has been the subject of several research reports. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Barclays dropped their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, May 26th. Wall Street Zen lowered shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. JPMorgan Chase & Co. lowered their price objective on Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating for the company in a research note on Tuesday, August 4th. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

About Alignment Healthcare

Alignment Healthcare, Inc NASDAQ: ALHC is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare's approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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