Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Bought by Federated Hermes Inc.

Key Points

• Federated Hermes Inc. increased its stake in Alignment Healthcare by 9.1%, now holding approximately $10.82 million in shares, while other investors like Mackenzie Financial Corp and TD Asset Management Inc. also boosted their positions in the company.
• Insider trading activity included CEO John E. Kao selling 180,000 shares worth $2.41 million, reducing his ownership by 10.39%, and insider Christopher J. Joyce selling 15,491 shares, leading to a total of over $269 million in insider sales this quarter.
• Analysts have mixed opinions on the stock, with most recent reports showing target price increases and upgrades, while the average target price now stands at $17.61, suggesting a moderate buy outlook.

Federated Hermes Inc. boosted its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 9.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 581,283 shares of the company's stock after purchasing an additional 48,728 shares during the period. Federated Hermes Inc. owned about 0.29% of Alignment Healthcare worth $10,823,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of ALHC. Teacher Retirement System of Texas lifted its holdings in shares of Alignment Healthcare by 109.1% during the first quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company's stock valued at $883,000 after purchasing an additional 24,755 shares in the last quarter. Northern Trust Corp increased its position in Alignment Healthcare by 8.6% in the fourth quarter. Northern Trust Corp now owns 908,964 shares of the company's stock worth $10,226,000 after buying an additional 72,063 shares in the last quarter. New York State Common Retirement Fund increased its position in Alignment Healthcare by 100.9% in the first quarter. New York State Common Retirement Fund now owns 165,642 shares of the company's stock worth $3,084,000 after buying an additional 83,187 shares in the last quarter. Victory Capital Management Inc. increased its position in Alignment Healthcare by 905.7% in the first quarter. Victory Capital Management Inc. now owns 114,397 shares of the company's stock worth $2,130,000 after buying an additional 103,022 shares in the last quarter. Finally, GAMMA Investing LLC increased its position in Alignment Healthcare by 3,216.9% in the first quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock worth $443,000 after buying an additional 23,097 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALHC has been the subject of several research analyst reports. Barclays upgraded Alignment Healthcare from an "underweight" rating to an "equal weight" rating and increased their target price for the stock from $9.00 to $13.00 in a research report on Thursday. Stifel Nicolaus raised their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Wall Street Zen raised Alignment Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday. Stephens raised Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Robert W. Baird lifted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Four research analysts have rated the stock with a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $17.61.

Insider Transactions at Alignment Healthcare

In other news, insider Christopher J. Joyce sold 15,491 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $16.01, for a total value of $248,010.91. Following the sale, the insider owned 374,531 shares in the company, valued at $5,996,241.31. This represents a 3.97% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Joseph S. Konowiecki sold 25,000 shares of the company's stock in a transaction dated Thursday, July 31st. The stock was sold at an average price of $16.00, for a total value 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 position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 17,700,753 shares of company stock valued at $269,911,757. 6.60% of the stock is owned by insiders.

Alignment Healthcare Stock Up 5.3%

ALHC stock traded up $0.69 on Monday, hitting $13.66. 5,011,042 shares of the company's stock were exchanged, compared to its average volume of 3,837,771. The firm has a 50 day moving average price of $13.89 and a two-hundred day moving average price of $15.34. The company has a quick ratio of 1.66, a current ratio of 1.66 and a debt-to-equity ratio of 2.29. Alignment Healthcare, Inc. has a 12-month low of $8.05 and a 12-month high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) 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 firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $960.25 million. During the same quarter last year, the company posted ($0.13) earnings per share. The firm's revenue was up 49.0% compared to the same quarter last year. Analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current 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.