58,904 Shares in Alignment Healthcare, Inc. $ALHC Bought by Fred Alger Management LLC

Key Points

• Fred Alger Management LLC has acquired 58,904 shares of Alignment Healthcare, Inc., valued at approximately $1,097,000, marking a significant institutional investment in the company.
• Several analysts have updated their ratings on Alignment Healthcare, with Barclays raising their price target from $9.00 to $13.00 and KeyCorp setting a new target price of $21.00.
• In the most recent quarter, Alignment Healthcare reported $1.02 billion in revenue, significantly exceeding analysts' expectations of $960.25 million, while earnings per share were $0.07, beating the consensus estimate.

Fred Alger Management LLC bought a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 58,904 shares of the company's stock, valued at approximately $1,097,000.

Other large investors have also recently made changes to their positions in the company. MCF Advisors LLC lifted its position 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 valued at $40,000 after buying an additional 1,011 shares in the last quarter. Skandinaviska Enskilda Banken AB publ purchased a new position in shares of Alignment Healthcare during the 1st quarter valued at about $42,000. Amalgamated Bank lifted its position in shares of Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after buying an additional 616 shares in the last quarter. Regal Partners Ltd purchased a new position in shares of Alignment Healthcare during the 1st quarter valued at about $194,000. Finally, CWM LLC lifted its position in shares of Alignment Healthcare by 137.6% during the 1st quarter. CWM LLC now owns 10,553 shares of the company's stock valued at $196,000 after buying an additional 6,112 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Alignment Healthcare news, Director Joseph S. Konowiecki sold 25,000 shares of the company's stock in a transaction on Tuesday, September 9th. The stock was sold at an average price of $17.00, for a total value of $425,000.00. Following the completion of the sale, the director directly owned 1,127,049 shares in the company, valued at approximately $19,159,833. This represents a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 215,662 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $16.41, for a total value of $3,539,013.42. Following the completion of the sale, the president owned 1,797,237 shares of the company's stock, valued at $29,492,659.17. This represents a 10.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,142,077 shares of company stock worth $18,068,259. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALHC. KeyCorp raised Alignment Healthcare from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective on the stock in a research report on Monday, August 25th. Barclays raised Alignment Healthcare from an "underweight" rating to an "equal weight" rating and lifted their price objective for the company from $9.00 to $13.00 in a research report on Thursday, July 31st. Wall Street Zen cut Alignment Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Stephens raised Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Finally, Zacks Research raised Alignment Healthcare to a "hold" rating in a report on Friday, August 8th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $18.83.

Alignment Healthcare Trading Up 2.7%

Shares of NASDAQ ALHC traded up $0.43 during trading hours on Monday, hitting $16.47. 1,143,991 shares of the company traded hands, compared to its average volume of 3,100,660. The stock has a market capitalization of $3.26 billion, a price-to-earnings ratio of -58.94 and a beta of 1.17. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.29. The company's 50 day moving average price is $14.40 and its 200 day moving average price is $15.54. Alignment Healthcare, Inc. has a 12 month low of $9.15 and a 12 month high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.14. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%.The firm had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $960.25 million. During the same quarter in the previous year, the company posted ($0.13) EPS. The company's revenue for the quarter was up 49.0% compared to the same quarter last year. Alignment Healthcare has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Alignment Healthcare 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.