Connor Clark & Lunn Investment Management Ltd. Invests $4.29 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 230,542 shares of the company's stock, valued at approximately $4,293,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.12% of Alignment Healthcare at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. MCF Advisors LLC increased its holdings in shares of Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after buying an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new stake in shares of Alignment Healthcare during the 1st quarter worth approximately $42,000. Amalgamated Bank increased its holdings in shares of Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after buying an additional 616 shares during the last quarter. RiverPark Advisors LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $106,000. Finally, Tower Research Capital LLC TRC increased its holdings in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after buying an additional 6,286 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Stock Up 1.6%

Shares of Alignment Healthcare stock traded up $0.23 during trading on Friday, hitting $15.05. 5,192,744 shares of the stock were exchanged, compared to its average volume of 3,909,184. The stock has a market cap of $2.98 billion, a price-to-earnings ratio of -53.75 and a beta of 1.16. The firm's 50-day moving average price is $13.73 and its 200 day moving average price is $15.30. Alignment Healthcare, Inc. has a 12-month low of $8.24 and a 12-month high of $21.06. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.66 and a quick ratio of 1.66.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.07) by $0.14. The business had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $960.25 million. Alignment Healthcare had a negative net margin of 1.53% and a negative return on equity of 43.68%. The company's revenue for the quarter was up 49.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.13) EPS. As a group, analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of research analyst reports. UBS Group increased their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Stephens raised shares of Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Wall Street Zen cut shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Sunday, August 10th. Barclays raised shares of Alignment Healthcare from an "underweight" rating to an "equal weight" rating and raised their price target for the company from $9.00 to $13.00 in a research report on Thursday, July 31st. Finally, Zacks Research raised shares of Alignment Healthcare to a "hold" rating in a research report on Friday, August 8th. Six equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $18.56.

Insider Transactions at Alignment Healthcare

In related news, insider Hyong Kim sold 18,600 shares of the business's stock in a transaction on Monday, August 11th. The shares were sold at an average price of $14.54, for a total value of $270,444.00. Following the completion of the sale, the insider directly owned 490,767 shares of the company's stock, valued at $7,135,752.18. The trade was a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO John E. Kao sold 180,000 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $13.41, for a total transaction of $2,413,800.00. Following the completion of the sale, the chief executive officer directly owned 1,553,100 shares of the company's stock, valued at approximately $20,827,071. This trade represents a 10.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 17,599,353 shares of company stock valued at $268,400,501 over the last quarter. 7.00% of the stock is owned by corporate insiders.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.