Algert Global LLC boosted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 119.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 153,730 shares of the company's stock after acquiring an additional 83,608 shares during the quarter. Algert Global LLC owned 0.07% of Alignment Healthcare worth $3,660,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other institutional investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC acquired a new stake in Alignment Healthcare in the 2nd quarter valued at $184,799,000. Wellington Management Group LLP lifted its stake in shares of Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company's stock worth $193,516,000 after purchasing an additional 6,940,277 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab acquired a new position in shares of Alignment Healthcare during the second quarter worth about $87,794,000. Bank of New York Mellon Corp purchased a new stake in shares of Alignment Healthcare in the second quarter worth about $87,077,000. Finally, Invesco Ltd. grew its stake 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 buying an additional 2,294,739 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.
Insiders Place Their Bets
In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the business's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total transaction of $713,986.86. Following the completion of the transaction, the insider owned 331,750 shares in the company, valued at approximately $6,588,555. The trade was a 9.78% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the sale, the executive vice president owned 1,103,816 shares in the company, valued at approximately $26,491,584. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is owned by company insiders.
Alignment Healthcare Stock Up 0.4%
Shares of Alignment Healthcare stock opened at $13.62 on Friday. The business has a 50-day moving average price of $18.09 and a 200 day moving average price of $18.53. Alignment Healthcare, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $25.12. The firm has a market cap of $2.83 billion, a P/E ratio of 71.69 and a beta of 1.10. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.17 EPS for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.Alignment Healthcare's quarterly revenue was up 31.6% compared to the same quarter last year. During the same quarter last year, the business posted $0.07 EPS. On average, sell-side analysts forecast that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current fiscal year.
Analyst Ratings Changes
Several equities analysts recently commented on the company. Wall Street Zen lowered Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Raymond James Financial downgraded shares of Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and lowered their price objective for the company from $22.00 to $19.00 in a research report on Monday, August 3rd. JPMorgan Chase & Co. dropped their price objective on shares of Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating on the stock in a research note on Tuesday, August 4th. Weiss Ratings reissued a "hold (c-)" rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. Finally, TD Cowen reissued a "buy" rating on shares of Alignment Healthcare in a research report on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.
Read Our Latest Research Report on Alignment Healthcare
Alignment Healthcare Profile
(
Free Report)
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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