Blue Trust Inc. Boosts Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Blue Trust Inc. increased its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 2,748.5% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 24,867 shares of the company's stock after acquiring an additional 23,994 shares during the period. Blue Trust Inc.'s holdings in Alignment Healthcare were worth $463,000 as of its most recent SEC filing.

Several other institutional investors also recently made changes to their positions in ALHC. Assenagon Asset Management S.A. raised its position in shares of Alignment Healthcare by 478.0% during the 1st quarter. Assenagon Asset Management S.A. now owns 831,397 shares of the company's stock valued at $15,481,000 after acquiring an additional 687,566 shares in the last quarter. Rhumbline Advisers lifted its holdings in shares of Alignment Healthcare by 4.4% in the first quarter. Rhumbline Advisers now owns 141,638 shares of the company's stock valued at $2,637,000 after buying an additional 5,934 shares during the period. GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 3,216.9% during the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock valued at $443,000 after purchasing an additional 23,097 shares in the last quarter. Wellington Management Group LLP grew its position in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after buying an additional 3,257,630 shares during the last quarter. Finally, Mackenzie Financial Corp grew its holdings in shares of Alignment Healthcare by 149.8% in the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company's stock worth $958,000 after acquiring an additional 51,084 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several analysts have issued reports on ALHC shares. Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Robert W. Baird boosted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. 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 report on Friday, May 2nd. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and a consensus target price of $17.17.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares of the company's stock, valued at approximately $12,575,829.17. This trade represents a 0.41% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the stock in a transaction dated Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the sale, the director now owns 44,302,175 shares of the company's stock, valued at approximately $676,937,234. This represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,875,452 shares of company stock worth $274,429,595 over the last three months. 6.60% of the stock is owned by company insiders.

Alignment Healthcare Stock Performance

Alignment Healthcare stock traded down $0.11 during midday trading on Monday, hitting $13.85. The company's stock had a trading volume of 500,006 shares, compared to its average volume of 2,098,083. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69. Alignment Healthcare, Inc. has a 1-year low of $7.19 and a 1-year high of $21.06. The company has a 50-day moving average price of $15.90 and a two-hundred day moving average price of $15.00. The company has a market cap of $2.74 billion, a price-to-earnings ratio of -28.86 and a beta of 1.22.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The firm's quarterly revenue was up 47.5% compared to the same quarter last year. During the same period last year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

About Alignment Healthcare

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.