Alignment Healthcare, Inc. $ALHC Holdings Lessened by Counterpoint Mutual Funds LLC

Key Points

• Counterpoint Mutual Funds cut its Alignment Healthcare stake by 91.4% in the third quarter, selling 283,984 shares and retaining 26,849 shares valued at approximately $219,000. Institutional investors collectively own 86.19% of the company.
• Alignment Healthcare insiders sold more than 1.06 million shares worth approximately $13.6 million over the past 90 days. The sales included transactions by President Dawn Maroney and CEO John Kao, made for tax withholding and under a pre-arranged trading plan, respectively.
• Analysts maintain a “Moderate Buy” consensus, with seven Buy ratings and five Holds, but several firms recently reduced their price targets. The stock opened at $8.40, while the consensus target remains $16.82; the company’s latest quarterly results beat earnings and revenue expectations.

Counterpoint Mutual Funds LLC lessened its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 91.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 26,849 shares of the company's stock after selling 283,984 shares during the quarter. Counterpoint Mutual Funds LLC's holdings in Alignment Healthcare were worth $219,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of ALHC. PNC Financial Services Group Inc. grew its stake in Alignment Healthcare by 9.2% during the first quarter. PNC Financial Services Group Inc. now owns 11,445 shares of the company's stock valued at $202,000 after acquiring an additional 962 shares in the last quarter. GAMMA Investing LLC increased its holdings in Alignment Healthcare by 46.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,368 shares of the company's stock valued at $80,000 after acquiring an additional 1,070 shares during the last quarter. Versant Capital Management Inc increased its holdings in Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company's stock valued at $33,000 after acquiring an additional 1,135 shares during the last quarter. Nykredit A S purchased a new stake in Alignment Healthcare in the 2nd quarter worth $36,000. Finally, Strs Ohio lifted its stake in Alignment Healthcare by 10.2% in the 1st quarter. Strs Ohio now owns 24,900 shares of the company's stock worth $439,000 after purchasing an additional 2,300 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Insider Buying and Selling

In other news, President Dawn Maroney sold 122,707 shares of the firm's stock in a transaction that occurred on Friday, September 11th. The stock was sold at an average price of $12.68, for a total value of $1,555,924.76. Following the completion of the sale, the president directly owned 794,606 shares of the company's stock, valued at $10,075,604.08. This trade represents a 13.38% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John E. Kao sold 27,400 shares of Alignment Healthcare stock in a transaction that occurred on Monday, September 14th. The stock was sold at an average price of $13.00, for a total value of $356,200.00. Following the completion of the transaction, the chief executive officer owned 590,766 shares of the company's stock, valued at approximately $7,679,958. This trade represents a 4.43% decrease in their position. 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 ninety days, insiders sold 1,061,967 shares of company stock valued at $13,642,490. Insiders own 5.20% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Zacks Research cut Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. TD Cowen dropped their price target on Alignment Healthcare from $21.00 to $12.00 and set a "buy" rating for the company in a research note on Monday, October 12th. Barclays dropped their price target on Alignment Healthcare from $16.00 to $10.00 and set an "equal weight" rating for the company in a research note on Tuesday, October 6th. UBS Group cut their price target on Alignment Healthcare from $22.00 to $9.00 and set a "neutral" rating for the company in a report on Monday, October 12th. Finally, Raymond James Financial reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Monday, October 12th. Seven investment analysts have rated the stock with a Buy rating and five have given a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $16.82.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $8.40 on Tuesday. Alignment Healthcare, Inc. has a 52 week low of $6.01 and a 52 week high of $25.12. The stock has a market capitalization of $1.74 billion, a P/E ratio of 44.21 and a beta of 1.14. The firm has a fifty day simple moving average of $10.82 and a two-hundred day simple moving average of $16.25. 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 posted its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The business's quarterly revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 EPS. On average, analysts expect that Alignment Healthcare, Inc. will post 0.14 earnings per share for the current fiscal year.

Alignment Healthcare Company Profile

Alignment Healthcare, Inc is a technology-enabled Medicare Advantage company focused on providing health coverage and care services for older adults. The company offers Medicare Advantage plans that combine medical benefits with care coordination, wellness support, and other services designed to help members manage their health.

Alignment operates through an integrated healthcare model that uses its proprietary technology platform to support physicians, care teams, and members. Its services include personalized care management, clinical coordination, virtual and in-home support, and member assistance through its concierge-style approach.

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