8 Knots Management LLC Sells 1,024,726 Shares of Alignment Healthcare, Inc. $ALHC

8 Knots Management LLC decreased its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 35.4% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 1,868,367 shares of the company's stock after selling 1,024,726 shares during the period. Alignment Healthcare comprises approximately 4.3% of 8 Knots Management LLC's portfolio, making the stock its 7th biggest holding. 8 Knots Management LLC owned 0.93% of Alignment Healthcare worth $36,900,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of ALHC. Wellington Management Group LLP grew its holdings in Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company's stock valued at $193,516,000 after purchasing an additional 6,940,277 shares during the last quarter. Invesco Ltd. lifted its position in shares of Alignment Healthcare by 122.3% in the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company's stock valued at $58,387,000 after acquiring an additional 2,294,739 shares in the last quarter. Capital World Investors purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $44,203,000. Loomis Sayles & Co. L P purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $44,162,000. Finally, Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $39,500,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $19.75 on Friday. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The business has a 50 day moving average price of $18.53 and a two-hundred day moving average price of $19.40. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The firm has a market cap of $4.08 billion, a PE ratio of 219.44, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping analysts' consensus estimates of $0.01 by $0.04. The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.Alignment Healthcare's quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the business posted ($0.05) EPS. Sell-side analysts expect that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms recently weighed in on ALHC. Weiss Ratings upgraded Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. UBS Group raised their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a "neutral" rating in a report on Friday, May 1st. Barclays lowered their target price on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 26th. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday. Finally, Raymond James Financial set a $22.00 target price on Alignment Healthcare in a research note on Thursday, May 7th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $24.30.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 298,000 shares of the firm's stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total value of $6,067,280.00. Following the sale, the chief executive officer owned 1,386,766 shares of the company's stock, valued at approximately $28,234,555.76. This trade represents a 17.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James M. Head sold 11,100 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $21.08, for a total value of $233,988.00. Following the completion of the sale, the chief financial officer directly owned 173,495 shares in the company, valued at approximately $3,657,274.60. This trade represents a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last quarter, insiders have sold 1,584,685 shares of company stock worth $30,401,143. 5.20% of the stock is currently owned by insiders.

Alignment Healthcare Profile

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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