Entropy Technologies LP Invests $627,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Key Points

• Entropy Technologies LP has invested approximately $627,000 in Alignment Healthcare, purchasing 33,700 shares in the first quarter of 2023.
• Alignment Healthcare reported a 49% increase in revenue year-over-year for the quarter, totaling $1.02 billion, and beat earnings estimates with $0.07 EPS.
• Major institutional investors, including Vanguard Group and T. Rowe Price, have significantly increased their holdings in Alignment Healthcare, indicating strong institutional support for the stock.

Entropy Technologies LP acquired a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 33,700 shares of the company's stock, valued at approximately $627,000.

Other large investors have also recently added to or reduced their stakes in the company. Invesco Ltd. grew its stake in shares of Alignment Healthcare by 1,415.7% during the 1st quarter. Invesco Ltd. now owns 1,875,790 shares of the company's stock worth $34,927,000 after acquiring an additional 1,752,033 shares in the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the 1st quarter worth approximately $4,293,000. Vanguard Group Inc. grew its position in shares of Alignment Healthcare by 13.2% in the 1st quarter. Vanguard Group Inc. now owns 11,113,896 shares of the company's stock valued at $206,941,000 after acquiring an additional 1,295,825 shares during the period. Baader Bank Aktiengesellschaft acquired a new position in shares of Alignment Healthcare during the 1st quarter worth about $372,000. Finally, XTX Topco Ltd raised its holdings in shares of Alignment Healthcare by 93.6% in the 1st quarter. XTX Topco Ltd now owns 29,972 shares of the company's stock valued at $558,000 after purchasing an additional 14,494 shares during the period. Institutional investors own 86.19% of the company's stock.

Insider Activity at Alignment Healthcare

In other news, Director Joseph S. Konowiecki sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, July 31st. The stock was sold at an average price of $16.00, for a total transaction of $400,000.00. Following the completion of the sale, the director owned 1,152,049 shares in the company, valued at $18,432,784. The trade was a 2.12% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Hyong Kim sold 18,600 shares of Alignment Healthcare stock in a transaction on Monday, August 11th. The shares were sold at an average price of $14.54, for a total transaction of $270,444.00. Following the completion of the sale, the insider directly owned 490,767 shares of the company's stock, valued at approximately $7,135,752.18. The trade was a 3.65% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,599,353 shares of company stock valued at $268,400,501 over the last 90 days. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Zacks Research raised Alignment Healthcare to a "hold" rating in a research report on Friday, August 8th. Wall Street Zen lowered Alignment Healthcare from a "buy" rating to a "hold" rating in a report on Sunday, August 10th. Stephens raised Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. UBS Group upped their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Barclays raised shares of Alignment Healthcare from an "underweight" rating to an "equal weight" rating and increased their price objective for the company from $9.00 to $13.00 in a research report on Thursday, July 31st. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average target price of $18.56.

Alignment Healthcare Trading Up 1.6%

NASDAQ ALHC traded up $0.23 during trading hours on Friday, reaching $15.05. The company's stock had a trading volume of 5,192,744 shares, compared to its average volume of 3,022,646. Alignment Healthcare, Inc. has a 52 week low of $8.24 and a 52 week high of $21.06. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.66 and a quick ratio of 1.66. The firm has a fifty day simple moving average of $13.73 and a 200-day simple moving average of $15.30. The stock has a market cap of $2.98 billion, a P/E ratio of -53.75 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, topping the consensus estimate of ($0.07) by $0.14. Alignment Healthcare had a negative net margin of 1.53% and a negative return on equity of 43.68%. The company had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $960.25 million. During the same period in the prior year, the company posted ($0.13) earnings per share. Alignment Healthcare's revenue for the quarter was up 49.0% compared to the same quarter last year. Equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Alignment Healthcare Profile

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.