First Light Asset Management LLC Acquires New Shares in Alignment Healthcare, Inc. $ALHC

Key Points

• First Light Asset Management LLC has acquired 956,441 shares of Alignment Healthcare, valued at approximately $17.8 million, making it 2.0% of its investment portfolio.
• Institutional investors hold 86.19% of Alignment Healthcare, with notable increases from Vanguard Group Inc. and Millennium Management LLC in recent quarters.
• Analysts have varied ratings for Alignment Healthcare, with a consensus rating of "Moderate Buy" and a price target of $18.83, despite a downgrade from Wall Street Zen.

First Light Asset Management LLC purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 956,441 shares of the company's stock, valued at approximately $17,809,000. Alignment Healthcare comprises about 2.0% of First Light Asset Management LLC's portfolio, making the stock its 18th biggest position. First Light Asset Management LLC owned 0.48% of Alignment Healthcare at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. MCF Advisors LLC boosted its position in Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock worth $40,000 after acquiring an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Alignment Healthcare during the 1st quarter worth approximately $42,000. Amalgamated Bank boosted its position in Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after acquiring an additional 616 shares during the last quarter. Tower Research Capital LLC TRC boosted its position in Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Finally, Voloridge Investment Management LLC acquired a new position in Alignment Healthcare during the 4th quarter worth approximately $189,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on ALHC. Wall Street Zen cut Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. KeyCorp upgraded Alignment Healthcare from a "sector weight" rating to an "overweight" rating and set a $21.00 price objective on the stock in a research note on Monday, August 25th. Zacks Research upgraded Alignment Healthcare to a "hold" rating in a research note on Friday, August 8th. Finally, Barclays upgraded Alignment Healthcare from an "underweight" rating to an "equal weight" rating and upped their price objective for the stock from $9.00 to $13.00 in a research note on Thursday, July 31st. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat, Alignment Healthcare has an average rating of "Moderate Buy" and an average target price of $18.83.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, Director Joseph S. Konowiecki sold 25,000 shares of the company's stock in a transaction on Thursday, July 31st. The stock was sold at an average price of $16.00, for a total value of $400,000.00. Following the transaction, the director directly owned 1,152,049 shares of the company's stock, valued at $18,432,784. This represents a 2.12% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Hyong Kim sold 24,800 shares of the stock in a transaction on Friday, August 22nd. The stock was sold at an average price of $16.00, for a total value of $396,800.00. Following the sale, the insider directly owned 447,367 shares in the company, valued at approximately $7,157,872. This trade represents a 5.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 636,185 shares of company stock worth $9,235,468. 7.00% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Performance

ALHC traded down $0.44 during trading hours on Friday, reaching $15.86. The company's stock had a trading volume of 2,222,047 shares, compared to its average volume of 2,700,272. Alignment Healthcare, Inc. has a 52 week low of $8.65 and a 52 week high of $21.06. The company's 50-day moving average is $14.18 and its 200-day moving average is $15.42. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $3.14 billion, a PE ratio of -56.64 and a beta of 1.17.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.07) by $0.14. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%.The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $960.25 million. During the same period in the prior year, the firm posted ($0.13) EPS. The company's revenue for the quarter was up 49.0% on a year-over-year basis. Alignment Healthcare has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Alignment Healthcare Company 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.