Deutsche Bank AG acquired a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor acquired 216,322 shares of the company's stock, valued at approximately $5,151,000. Deutsche Bank AG owned approximately 0.10% of Alignment Healthcare at the end of the most recent quarter.
A number of other hedge funds also recently bought and sold shares of the business. Royal Bank of Canada boosted its holdings in shares of Alignment Healthcare by 92.6% during the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company's stock worth $1,720,000 after purchasing an additional 44,413 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its holdings in shares of Alignment Healthcare by 4.6% in 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 purchasing an additional 2,594 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in Alignment Healthcare by 79.1% during the first quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company's stock worth $18,112,000 after buying an additional 429,703 shares in the last quarter. Woodline Partners LP purchased a new position in Alignment Healthcare during the first quarter worth approximately $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in 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 worth $5,729,000 after buying an additional 44,452 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.
Alignment Healthcare Stock Performance
Shares of ALHC stock opened at $13.43 on Tuesday. Alignment Healthcare, Inc. has a one year low of $12.70 and a one year high of $25.12. The firm's 50 day moving average price is $18.71 and its 200-day moving average price is $18.73. The firm has a market cap of $2.79 billion, a P/E ratio of 70.69 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to analysts' expectations of $1.31 billion. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company's revenue was up 31.6% on a year-over-year basis. During the same period in the previous year, the firm posted $0.07 earnings per share. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.
Insider Buying and Selling at Alignment Healthcare
In related news, President Dawn Christine Maroney sold 30,000 shares of the firm's stock in a transaction that occurred 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 of the company's stock, valued at $18,519,969.15. This trade represents a 3.07% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the completion of the sale, the chief executive officer owned 790,766 shares in the company, valued at $10,975,832.08. The trade was a 27.37% decrease in their ownership of the stock. 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. In the last ninety days, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. Insiders own 5.20% of the company's stock.
Analyst Ratings Changes
Several brokerages have issued reports on ALHC. Barclays dropped their target price on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, May 26th. Wall Street Zen cut shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Saturday, August 1st. Zacks Research cut shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. JPMorgan Chase & Co. dropped their price objective on shares of Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating for the company in a report on Tuesday, August 4th. Finally, UBS Group restated a "neutral" rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Seven 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, the company presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.
Check Out Our Latest Analysis on ALHC
About Alignment Healthcare
(
Free Report)
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.
Featured Articles
Want to see what other hedge funds are holding ALHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report).
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.
Continue following MarketBeat
Add MarketBeat as your preferred source on Google to see our latest stories in your feed.
Before you consider Alignment Healthcare, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Alignment Healthcare wasn't on the list.
While Alignment Healthcare currently has a Moderate Buy rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Learn the basics of options trading and how to use them to boost returns and manage risk with this free report from MarketBeat. Click the link below to get your free copy.
Get This Free Report
