Corient Private Wealth LP Purchases New Holdings in Alignment Healthcare, Inc. $ALHC

Key Points

• Corient Private Wealth LP purchased 136,378 shares of Alignment Healthcare worth approximately $3.25 million, joining institutional investors that collectively own 86.19% of the company.
• Alignment Healthcare exceeded quarterly expectations, reporting EPS of $0.17 versus the $0.13 consensus and revenue of $1.34 billion, up 31.6% year over year.
• Insiders sold more than 1 million shares worth $18.6 million over the past three months. Analysts maintain a “Moderate Buy” consensus with an average price target of $23.60, despite several recent target reductions.

Corient Private Wealth LP purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 136,378 shares of the company's stock, valued at approximately $3,247,000. Corient Private Wealth LP owned approximately 0.07% of Alignment Healthcare as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the stock. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock valued at $305,983,000 after buying an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP increased its holdings in Alignment Healthcare by 26.9% during the fourth quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company's stock worth $277,900,000 after buying an additional 2,981,166 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in Alignment Healthcare by 0.6% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company's stock worth $249,715,000 after buying an additional 79,268 shares during the last quarter. William Blair Investment Management LLC bought a new stake in Alignment Healthcare during the second quarter worth $184,799,000. Finally, Invesco Ltd. raised its position in Alignment Healthcare by 38.9% during the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company's stock worth $122,501,000 after acquiring an additional 1,735,962 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Insider Activity at Alignment Healthcare

In other news, EVP Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total transaction of $600,000.00. Following the transaction, the executive vice president owned 1,103,816 shares in the company, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, June 15th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the president directly owned 947,313 shares of the company's stock, valued at approximately $18,519,969.15. The trade was a 3.07% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. 5.20% of the stock is currently owned by insiders.

Alignment Healthcare Price Performance

Shares of ALHC opened at $13.59 on Wednesday. The firm has a market capitalization of $2.82 billion, a PE ratio of 71.53 and a beta of 1.11. The company's 50-day moving average is $17.77 and its 200-day moving average is $18.42. Alignment Healthcare, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $25.12. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.13 by $0.04. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The company had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. During the same quarter last year, the company posted $0.07 EPS. Alignment Healthcare's quarterly revenue was up 31.6% compared to the same quarter last year. Equities analysts forecast that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.

Analysts Set New Price Targets

ALHC has been the topic of several recent analyst reports. Zacks Research lowered shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. TD Cowen reiterated a "buy" rating on shares of Alignment Healthcare in a report on Monday, August 3rd. JPMorgan Chase & Co. lowered their price target on Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating on the stock in a research report on Tuesday, August 4th. Weiss Ratings restated a "hold (c-)" rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. Finally, Barclays cut their price objective on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a research report on Tuesday, May 26th. 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 has an average rating of "Moderate Buy" and a consensus price target 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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