Capital World Investors Buys New Shares in Alignment Healthcare, Inc. $ALHC

Key Points

• Capital World Investors disclosed a new stake in Alignment Healthcare, buying 2.24 million shares worth about $44.2 million and ending the quarter with roughly 1.12% ownership.
• Alignment Healthcare posted a strong quarterly update, with EPS of $0.05 topping estimates and revenue of $1.24 billion exceeding expectations; revenue was also up 33.3% year over year.
• Analyst sentiment has improved, with several firms upgrading the stock and MarketBeat showing a Moderate Buy consensus and an average price target of $24.30.

Capital World Investors bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 2,238,147 shares of the company's stock, valued at approximately $44,203,000. Capital World Investors owned about 1.12% of Alignment Healthcare at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in ALHC. Royal Bank of Canada lifted its stake in Alignment Healthcare by 92.6% during the first quarter. Royal Bank of Canada now owns 92,379 shares of the company's stock valued at $1,720,000 after purchasing an additional 44,413 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in shares of Alignment Healthcare by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company's stock valued at $1,109,000 after acquiring an additional 2,594 shares during the period. Goldman Sachs Group Inc. raised its holdings in shares of Alignment Healthcare by 79.1% during the first quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company's stock valued at $18,112,000 after acquiring an additional 429,703 shares during the period. Woodline Partners LP acquired a new stake in shares of Alignment Healthcare during the first quarter valued at approximately $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in shares of Alignment Healthcare by 16.9% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company's stock valued at $5,729,000 after acquiring an additional 44,452 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Up 25.1%

Alignment Healthcare stock opened at $19.20 on Wednesday. The firm has a market cap of $3.97 billion, a PE ratio of 213.33, a P/E/G ratio of 2.07 and a beta of 1.14. 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 firm's 50 day moving average price is $18.36 and its two-hundred day moving average price is $19.34. Alignment Healthcare, Inc. has a twelve month low of $11.63 and a twelve month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company's revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.05) EPS. On average, research analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

ALHC has been the topic of a number of recent analyst reports. Weiss Ratings upgraded shares of Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a report on Thursday, May 7th. UBS Group boosted their price target on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 1st. Wolfe Research initiated coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They set an "outperform" rating and a $24.00 price target on the stock. Zacks Research upgraded shares of Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a report on Tuesday, April 28th. Finally, Wall Street Zen upgraded shares of Alignment Healthcare from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $24.30.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 36,749 shares of the company's stock in a transaction that occurred on Wednesday, March 18th. The shares were sold at an average price of $17.84, for a total value of $655,602.16. Following the transaction, the president owned 1,058,813 shares in the company, valued at approximately $18,889,223.92. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO John E. Kao sold 298,000 shares of the company's stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $16.89, for a total transaction of $5,033,220.00. Following the completion of the transaction, the chief executive officer owned 1,508,641 shares in the company, valued at approximately $25,480,946.49. This represents a 16.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 1,368,741 shares of company stock worth $25,765,741. 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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