Aigen Investment Management LP Has $1.05 Million Stock Holdings in 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 increased its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 392.7% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 56,545 shares of the company's stock after purchasing an additional 45,069 shares during the period. Aigen Investment Management LP's holdings in Alignment Healthcare were worth $1,053,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of ALHC. MCF Advisors LLC boosted its holdings in shares of Alignment Healthcare by 87.6% during the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after acquiring an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ bought a new stake in Alignment Healthcare in the 1st quarter valued at $42,000. Amalgamated Bank boosted its stake in Alignment Healthcare by 21.6% in the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after purchasing an additional 616 shares during the period. RiverPark Advisors LLC bought a new stake in Alignment Healthcare in the 4th quarter valued at $106,000. Finally, Tower Research Capital LLC TRC boosted its stake in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares during the period. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $0.03 on Tuesday, reaching $14.64. 1,744,588 shares of the stock were exchanged, compared to its average volume of 3,838,107. The firm's 50 day moving average is $13.74 and its 200-day moving average is $15.31. Alignment Healthcare, Inc. has a one year low of $8.17 and a one year high of $21.06. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $2.90 billion, a PE ratio of -52.28 and a beta of 1.16.

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, topping 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 during the quarter, compared to analysts' expectations of $960.25 million. During the same period in the prior year, the company earned ($0.13) earnings per share. The company's quarterly revenue was up 49.0% on a year-over-year basis. As a group, analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other news, President Dawn Christine Maroney sold 30,000 shares of the firm's stock in a transaction that occurred on Monday, July 14th. The shares were 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 in the company, valued at approximately $27,456,562.56. This trade represents a 1.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Joyce sold 15,491 shares of the firm's stock in a transaction that occurred on Thursday, July 31st. The shares were sold at an average price of $16.01, for a total transaction of $248,010.91. Following the completion of the sale, the insider owned 374,531 shares in the company, valued at approximately $5,996,241.31. The trade was a 3.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,610,753 shares of company stock worth $268,576,157 in the last quarter. Corporate insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

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

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.