Allspring Global Investments Holdings LLC Raises Stake in Alignment Healthcare, Inc. $ALHC

Key Points

• Allspring Global Investments sharply increased its position in Alignment Healthcare, boosting its stake by 276.7% in the first quarter to 2.46 million shares, worth about $43.9 million.
• Analyst sentiment remains constructive, with six Buy ratings and four Hold ratings, giving the stock a consensus “Moderate Buy” and an average price target of $24.30.
• Alignment Healthcare reported stronger-than-expected results for the latest quarter, posting EPS of $0.05 versus estimates of $0.01 and revenue of $1.24 billion, up 33.3% year over year.

Allspring Global Investments Holdings LLC raised its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 276.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,458,400 shares of the company's stock after buying an additional 1,805,752 shares during the period. Allspring Global Investments Holdings LLC owned about 1.19% of Alignment Healthcare worth $43,882,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also added to or reduced their stakes in the stock. Summit Securities Group LLC purchased a new position in Alignment Healthcare during the 4th quarter worth $26,000. Parallel Advisors LLC raised its holdings in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock valued at $33,000 after acquiring an additional 773 shares in the last quarter. Larson Financial Group LLC purchased a new stake in Alignment Healthcare in the third quarter worth about $33,000. First Horizon Corp purchased a new stake in Alignment Healthcare in the fourth quarter worth about $39,000. Finally, GAMMA Investing LLC grew its holdings in Alignment Healthcare by 83.8% during the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company's stock worth $43,000 after acquiring an additional 987 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ALHC shares. Barclays dropped their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 26th. Weiss Ratings upgraded Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. Raymond James Financial set a $22.00 target price on Alignment Healthcare in a research report on Thursday, May 7th. Wall Street Zen upgraded Alignment Healthcare from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. Finally, KeyCorp reissued an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Six analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $24.30.

Alignment Healthcare Stock Performance

ALHC opened at $20.60 on Friday. The company has a market cap of $4.26 billion, a P/E ratio of 228.89, a price-to-earnings-growth ratio of 2.78 and a beta of 1.05. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm's 50-day moving average price is $19.23 and its 200-day moving average price is $19.84. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $25.12.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $1.24 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the firm posted ($0.05) earnings per share. The business's revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, equities analysts anticipate that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the president owned 947,313 shares in the company, valued at $18,519,969.15. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the firm'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 transaction, the insider directly owned 331,750 shares of the company's stock, valued at approximately $6,588,555. This trade represents a 9.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,039,951 shares of company stock worth $19,976,967. Company insiders own 5.20% of the company's stock.

About Alignment Healthcare

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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