Aigen Investment Management LP Purchases 45,069 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Key Points

• Aigen Investment Management LP significantly increased its stake in Alignment Healthcare by 392.7% during the first quarter, holding 56,545 shares valued at approximately $1.05 million.
• Several hedge funds have also boosted their positions, with MCF Advisors LLC's stake increasing by 87.6%, highlighting strong institutional interest in the company.
• Alignment Healthcare reported a 49% increase in revenue year-over-year in its latest earnings report, beating estimates with $1.02 billion in revenue.

Aigen Investment Management LP raised its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 392.7% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 56,545 shares of the company's stock after buying an additional 45,069 shares during the quarter. Aigen Investment Management LP's holdings in Alignment Healthcare were worth $1,053,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of ALHC. Teacher Retirement System of Texas raised its holdings in Alignment Healthcare by 109.1% during the first quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company's stock worth $883,000 after purchasing an additional 24,755 shares in the last quarter. Northern Trust Corp boosted its position in shares of Alignment Healthcare by 8.6% during the 4th quarter. Northern Trust Corp now owns 908,964 shares of the company's stock worth $10,226,000 after purchasing an additional 72,063 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Alignment Healthcare by 100.9% during the 1st quarter. New York State Common Retirement Fund now owns 165,642 shares of the company's stock worth $3,084,000 after purchasing an additional 83,187 shares in the last quarter. Victory Capital Management Inc. boosted its position in shares of Alignment Healthcare by 905.7% in the 1st quarter. Victory Capital Management Inc. now owns 114,397 shares of the company's stock worth $2,130,000 after buying an additional 103,022 shares in the last quarter. Finally, GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 3,216.9% in the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock worth $443,000 after buying an additional 23,097 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Stock Performance

NASDAQ ALHC traded up $0.11 during trading on Wednesday, hitting $14.75. The company's stock had a trading volume of 3,373,941 shares, compared to its average volume of 3,835,295. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.29. The firm has a market cap of $2.92 billion, a P/E ratio of -52.69 and a beta of 1.16. The firm has a 50 day moving average price of $13.73 and a 200 day moving average price of $15.30. Alignment Healthcare, Inc. has a 52 week low of $8.24 and a 52 week high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates 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 business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $960.25 million. During the same quarter in the prior year, the company posted ($0.13) earnings per share. The firm's revenue was up 49.0% on a year-over-year basis. Equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Hyong Kim sold 18,600 shares of Alignment Healthcare stock in a transaction on Monday, August 11th. The stock was sold at an average price of $14.54, for a total transaction of $270,444.00. Following the sale, the insider directly owned 490,767 shares in the company, valued at approximately $7,135,752.18. This trade represents a 3.65% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Dawn Christine Maroney sold 30,000 shares of the 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 owned 2,042,899 shares in the company, valued at approximately $27,456,562.56. This represents a 1.45% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,599,353 shares of company stock valued at $268,400,501. Insiders own 7.00% of the company's stock.

Analyst Upgrades and Downgrades

ALHC has been the subject of several analyst reports. Robert W. Baird boosted their target price on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. UBS Group upped their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Wall Street Zen downgraded shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday. Barclays raised shares of Alignment Healthcare from an "underweight" rating to an "equal weight" rating and upped their price objective for the company from $9.00 to $13.00 in a research note on Thursday, July 31st. Finally, Stephens raised shares of Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Five analysts have rated the stock with a hold rating, five have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $18.56.

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.