Alignment Healthcare, Inc. $ALHC Position Raised by Pier Capital LLC

Key Points

• Pier Capital LLC increased its stake in Alignment Healthcare by 140.5% in Q4 to 546,674 shares (about $10.8 million), making ALHC its fourth-largest holding.
• Institutional ownership stands at 86.19%, with large position increases from firms like Vanguard (15.49M shares) and Wellington (11.09M shares).
• Alignment beat quarterly EPS estimates ($0.05 vs $0.01) with revenue up 33.3% YoY1.47M shares (~$28.7M) in the past three months.

Pier Capital LLC lifted its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 140.5% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 546,674 shares of the company's stock after buying an additional 319,332 shares during the period. Alignment Healthcare makes up 1.7% of Pier Capital LLC's investment portfolio, making the stock its 4th largest holding. Pier Capital LLC owned about 0.27% of Alignment Healthcare worth $10,797,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position in shares of Alignment Healthcare by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock valued at $305,983,000 after buying an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP grew its position in shares of Alignment Healthcare by 167.3% in the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company's stock valued at $193,516,000 after buying an additional 6,940,277 shares during the last quarter. 8 Knots Management LLC grew its position in shares of Alignment Healthcare by 6.4% in the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company's stock valued at $70,222,000 after buying an additional 300,409 shares during the last quarter. Invesco Ltd. grew its position in shares of Alignment Healthcare by 7.1% in the 3rd quarter. Invesco Ltd. now owns 4,466,630 shares of the company's stock valued at $77,943,000 after buying an additional 296,101 shares during the last quarter. Finally, William Blair Investment Management LLC grew its position in shares of Alignment Healthcare by 43.4% in the 3rd quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company's stock valued at $36,993,000 after buying an additional 641,381 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Up 0.6%

ALHC stock opened at $18.25 on Friday. Alignment Healthcare, Inc. has a one year low of $11.63 and a one year high of $23.87. The stock has a market capitalization of $3.77 billion, a PE ratio of 202.78, a price-to-earnings-growth ratio of 3.18 and a beta of 1.26. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The company has a fifty day moving average of $19.28 and a 200-day moving average of $19.47.

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 the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter last year, the business earned ($0.05) EPS. The business's revenue was up 33.3% on a year-over-year basis. As a group, analysts expect that Alignment Healthcare, Inc. will post 0.15 EPS for the current year.

Insider Buying and Selling

In related news, insider Andreas P. Wagner sold 11,602 shares of the firm's stock in a transaction dated Thursday, March 19th. The shares were sold at an average price of $18.22, for a total value of $211,388.44. Following the completion of the sale, the insider owned 148,628 shares in the company, valued at $2,708,002.16. This trade represents a 7.24% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Christopher J. Joyce sold 18,013 shares of the firm's stock in a transaction dated Wednesday, April 1st. The shares were sold at an average price of $17.79, for a total transaction of $320,451.27. Following the completion of the sale, the insider owned 305,451 shares of the company's stock, valued at $5,433,973.29. This trade represents a 5.57% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 1,474,097 shares of company stock worth $28,679,550. 5.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

ALHC has been the subject of a number of recent research reports. Barclays increased their price target on shares of Alignment Healthcare from $18.00 to $19.00 and gave the stock an "equal weight" rating in a research note on Friday, May 1st. UBS Group increased their price target on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a "neutral" rating in a research note on Friday, May 1st. KeyCorp reiterated an "overweight" rating and set a $28.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 22nd. Wall Street Zen cut shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $24.60.

Alignment Healthcare Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.