Formula Growth Ltd. Makes New $5.27 Million Investment in Alignment Healthcare, Inc. $ALHC

Formula Growth Ltd. bought a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 221,347 shares of the company's stock, valued at approximately $5,270,000. Alignment Healthcare makes up about 1.9% of Formula Growth Ltd.'s holdings, making the stock its 5th biggest holding. Formula Growth Ltd. owned approximately 0.11% of Alignment Healthcare at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. Bank of America Corp DE increased its holdings in shares of Alignment Healthcare by 156.5% in the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company's stock worth $56,660,000 after buying an additional 1,961,778 shares during the last quarter. 1492 Capital Management LLC raised its position in shares of Alignment Healthcare by 61.8% during the 4th quarter. 1492 Capital Management LLC now owns 324,865 shares of the company's stock valued at $6,416,000 after buying an additional 124,143 shares in the last quarter. Danica Pension Livsforsikringsaktieselskab purchased a new position in Alignment Healthcare in the fourth quarter worth about $39,500,000. William Blair Investment Management LLC increased its stake in Alignment Healthcare by 8.7% during the fourth quarter. William Blair Investment Management LLC now owns 2,305,255 shares of the company's stock worth $45,529,000 after acquiring an additional 185,303 shares during the last quarter. Finally, Principal Financial Group Inc. increased its stake in Alignment Healthcare by 36.5% during the first quarter. Principal Financial Group Inc. now owns 544,274 shares of the company's stock worth $9,590,000 after acquiring an additional 145,491 shares during the last quarter. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Trading Down 2.4%

ALHC opened at $13.56 on Friday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The stock's fifty day moving average is $18.26 and its two-hundred day moving average is $18.57. The company has a market capitalization of $2.81 billion, a P/E ratio of 71.37 and a beta of 1.10. Alignment Healthcare, Inc. has a 52 week low of $12.70 and a 52 week high of $25.12.

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

Wall Street Analysts Forecast Growth

ALHC has been the topic of several analyst reports. JPMorgan Chase & Co. cut their target price 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. UBS Group reaffirmed a "neutral" rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Zacks Research downgraded shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research note on Monday, July 6th. Finally, Barclays lowered their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a report on Tuesday, May 26th. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and a consensus price target of $23.60.

Insiders Place Their Bets

In other news, insider Mark D. Kent bought 14,848 shares of the business's stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $13.31 per share, with a total value of $197,626.88. Following the transaction, the insider directly owned 14,848 shares in the company, valued at approximately $197,626.88. The trade was a ∞ increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the transaction, the president directly owned 947,313 shares in the company, valued at $18,519,969.15. This represents 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. In the last ninety days, insiders sold 1,009,951 shares of company stock valued at $18,597,287. 5.20% of the stock is currently owned by company insiders.

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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