8 Knots Management LLC Increases Stock Holdings in Alignment Healthcare, Inc. $ALHC

Key Points

• 8 Knots Management LLC increased its stake in Alignment Healthcare by 28.9% during the first quarter, owning 4,715,472 shares worth approximately $87.8 million.
• Analysts have shown positive sentiment towards Alignment Healthcare, with several upgrades and a current consensus rating of "Moderate Buy" and a target price of $18.83.
• Insider selling has occurred recently, including the CEO selling 180,000 shares, which represents a 10.39% decrease in their position.

8 Knots Management LLC raised its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 28.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,715,472 shares of the company's stock after purchasing an additional 1,056,777 shares during the quarter. Alignment Healthcare accounts for 11.1% of 8 Knots Management LLC's investment portfolio, making the stock its 3rd largest position. 8 Knots Management LLC owned approximately 2.38% of Alignment Healthcare worth $87,802,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. grew its stake in Alignment Healthcare by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company's stock valued at $206,941,000 after purchasing an additional 1,295,825 shares during the period. T. Rowe Price Investment Management Inc. grew its stake in shares of Alignment Healthcare by 5.0% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 9,078,113 shares of the company's stock worth $169,035,000 after acquiring an additional 429,071 shares during the period. Wellington Management Group LLP grew its stake in shares of Alignment Healthcare by 0.9% during the 1st quarter. Wellington Management Group LLP now owns 7,509,057 shares of the company's stock worth $139,819,000 after acquiring an additional 70,557 shares during the period. Millennium Management LLC grew its stake in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock worth $38,122,000 after acquiring an additional 2,896,311 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its stake in shares of Alignment Healthcare by 9.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 2,199,421 shares of the company's stock worth $40,954,000 after acquiring an additional 193,644 shares during the period. Institutional investors own 86.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. KeyCorp upgraded Alignment Healthcare from a "sector weight" rating to an "overweight" rating and set a $21.00 price target for the company in a research note on Monday, August 25th. Barclays upgraded Alignment Healthcare from an "underweight" rating to an "equal weight" rating and increased their price target for the stock from $9.00 to $13.00 in a research note on Thursday, July 31st. Wall Street Zen downgraded Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Finally, Zacks Research upgraded Alignment Healthcare to a "hold" rating in a research note 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 assigned a Hold rating to the company. According to MarketBeat, Alignment Healthcare has a consensus rating of "Moderate Buy" and an average price target of $18.83.

Alignment Healthcare Trading Down 2.7%

ALHC stock traded down $0.44 during midday trading on Friday, hitting $15.86. The company had a trading volume of 2,222,047 shares, compared to its average volume of 2,700,272. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.29. Alignment Healthcare, Inc. has a 52 week low of $8.65 and a 52 week high of $21.06. The stock has a market cap of $3.14 billion, a price-to-earnings ratio of -56.64 and a beta of 1.17. The stock's 50 day moving average price is $14.18 and its 200 day moving average price is $15.42.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) 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 analysts' expectations of $960.25 million. During the same period in the previous year, the firm earned ($0.13) earnings per share. The business's revenue 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. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Monday, July 14th. The stock was sold at an average price of $13.44, for a total value of $403,200.00. Following the sale, the president directly owned 2,042,899 shares of the company's stock, valued at approximately $27,456,562.56. The trade was a 1.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Joseph S. Konowiecki sold 25,000 shares of the business's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $16.00, for a total value of $400,000.00. Following the completion of the sale, the director directly owned 1,152,049 shares in the company, valued at $18,432,784. This trade represents a 2.12% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 636,185 shares of company stock valued at $9,235,468 over the last 90 days. 7.00% of the stock is currently owned by company insiders.

About Alignment Healthcare

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.