Persistent Asset Partners Ltd boosted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 8.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 263,955 shares of the company's stock after purchasing an additional 19,801 shares during the period. Alignment Healthcare makes up approximately 4.1% of Persistent Asset Partners Ltd's holdings, making the stock its 3rd biggest position. Persistent Asset Partners Ltd owned about 0.13% of Alignment Healthcare worth $4,915,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Vanguard Group Inc. lifted its stake in Alignment Healthcare by 13.2% during the first quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company's stock worth $206,941,000 after purchasing an additional 1,295,825 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock worth $97,302,000 after buying an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP raised its holdings in Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC increased its position in Alignment Healthcare by 39.6% during the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock worth $55,721,000 after buying an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC raised its holdings in Alignment Healthcare by 49.5% in the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company's stock valued at $41,160,000 after acquiring an additional 1,211,727 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
Several equities analysts have commented on ALHC shares. Robert W. Baird raised their target price on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Wall Street Zen lowered Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Sunday. Barclays raised Alignment Healthcare from an "underweight" rating to an "equal weight" rating and boosted their target price for the company from $9.00 to $13.00 in a research report on Thursday, July 31st. Stephens raised shares of Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, UBS Group upped their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Five equities research 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 data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $18.56.
Check Out Our Latest Research Report on Alignment Healthcare
Insider Activity
In other news, CEO John E. Kao sold 180,000 shares of Alignment Healthcare stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $13.41, for a total value of $2,413,800.00. Following the sale, the chief executive officer directly owned 1,553,100 shares of the company's stock, valued at approximately $20,827,071. The trade was a 10.39% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $16.00, for a total value of $400,000.00. Following the completion of the transaction, the director owned 1,152,049 shares of the company's stock, valued at approximately $18,432,784. This represents a 2.12% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,610,753 shares of company stock valued at $268,576,157 in the last three months. 6.60% of the stock is currently owned by insiders.
Alignment Healthcare Price Performance
ALHC opened at $14.61 on Tuesday. The company's 50-day simple moving average is $13.76 and its two-hundred day simple moving average is $15.31. The stock has a market capitalization of $2.89 billion, a P/E ratio of -52.18 and a beta of 1.16. Alignment Healthcare, Inc. has a 52-week low of $8.17 and a 52-week 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.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 EPS 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 for the quarter, compared to the consensus estimate of $960.25 million. During the same quarter last year, the company earned ($0.13) earnings per share. The business's revenue for the quarter was up 49.0% compared to the same quarter last year. As a group, analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
About Alignment Healthcare
(
Free Report)
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.
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