Alignment Healthcare, Inc. $ALHC Shares Acquired by Wellington Management Group LLP

Key Points

• Wellington Management increased its Alignment Healthcare stake by 9.8% in the second quarter, bringing its holdings to 18.78 million shares, or about 9.05% of the company. Institutional investors collectively own 86.19% of ALHC.
• Alignment Healthcare exceeded quarterly expectations, reporting $0.17 in EPS versus a $0.13 consensus and $1.34 billion in revenue, up 31.6% year over year.
• Analysts maintain a generally positive outlook, with a “Moderate Buy” consensus and an average price target of $23.60, although several firms recently reduced their targets. Insiders sold about $18.6 million of stock over the past three months, primarily through pre-arranged Rule 10b5-1 plans.

Wellington Management Group LLP grew its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 9.8% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 18,780,363 shares of the company's stock after purchasing an additional 1,681,427 shares during the period. Wellington Management Group LLP owned approximately 9.05% of Alignment Healthcare worth $447,160,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALHC. William Blair Investment Management LLC acquired a new position in Alignment Healthcare during the second quarter worth $184,799,000. Danica Pension Livsforsikringsaktieselskab purchased a new stake in Alignment Healthcare in the 2nd quarter valued at $87,794,000. Bank of New York Mellon Corp acquired a new stake in shares of Alignment Healthcare in the 2nd quarter worth $87,077,000. Invesco Ltd. increased its stake in shares of Alignment Healthcare by 122.3% in the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company's stock worth $58,387,000 after acquiring an additional 2,294,739 shares during the last quarter. Finally, Capital World Investors purchased a new position in shares of Alignment Healthcare during the 4th quarter worth $44,203,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Insider Buying and Selling

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the sale, the president directly owned 947,313 shares in the company, valued at $18,519,969.15. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the business's stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the completion of the sale, the executive vice president directly owned 1,103,816 shares in the company, valued at $26,491,584. This trade 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. Insiders have sold a total of 1,009,951 shares of company stock valued at $18,597,287 over the last three months. Company insiders own 5.20% of the company's stock.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock opened at $13.62 on Friday. Alignment Healthcare, Inc. has a 52 week low of $12.70 and a 52 week high of $25.12. The business's fifty day simple moving average is $18.09 and its 200-day simple moving average is $18.53. The firm has a market cap of $2.83 billion, a PE 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 quarterly 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 business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company's revenue was up 31.6% compared to the same quarter last year. During the same period in the prior year, the business posted $0.07 EPS. Equities analysts forecast that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several recent research reports. JPMorgan Chase & Co. lowered their price target on shares of Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. KeyCorp reaffirmed an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Raymond James Financial lowered shares of Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and decreased their target price for the company from $22.00 to $19.00 in a report on Monday, August 3rd. TD Cowen reissued a "buy" rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. Finally, Zacks Research downgraded shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. Based on data from MarketBeat, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $23.60.

Alignment Healthcare 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.

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