General Atlantic L.P. Has $260.06 Million Holdings in Alignment Healthcare, Inc. $ALHC

Key Points

• General Atlantic L.P. cut its stake in Alignment Healthcare by 45.8% in the fourth quarter, but still held 13.17 million shares worth about $260.1 million, making ALHC its fifth-largest position.
• Wall Street sentiment on Alignment Healthcare remains positive overall, with a Moderate Buy consensus and an average price target of $24.30. Recent analyst actions included a Zacks upgrade to strong buy and multiple firms reiterating buy or overweight ratings.
• The company reported better-than-expected quarterly results, posting EPS of $0.05 versus estimates of $0.01 and revenue of $1.24 billion, up 33.3% year over year. Insider trading was mixed, with one executive buying shares and another selling under a Rule 10b5-1 plan.

General Atlantic L.P. lowered its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 45.8% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 13,167,733 shares of the company's stock after selling 11,119,494 shares during the quarter. Alignment Healthcare comprises approximately 9.1% of General Atlantic L.P.'s investment portfolio, making the stock its 5th biggest position. General Atlantic L.P. owned about 6.58% of Alignment Healthcare worth $260,063,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP bought a new position in shares of Alignment Healthcare in the third quarter worth $4,581,000. 1492 Capital Management LLC lifted its position in Alignment Healthcare by 61.8% during the fourth quarter. 1492 Capital Management LLC now owns 324,865 shares of the company's stock worth $6,416,000 after purchasing an additional 124,143 shares during the period. Cinctive Capital Management LP acquired a new stake in Alignment Healthcare during the third quarter worth about $3,814,000. Vanguard Group Inc. grew its stake in Alignment Healthcare by 5.0% during the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company's stock worth $243,752,000 after buying an additional 664,769 shares in the last quarter. Finally, William Blair Investment Management LLC increased its holdings in Alignment Healthcare by 43.4% in the 3rd quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company's stock valued at $36,993,000 after buying an additional 641,381 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages have recently commented on ALHC. Zacks Research upgraded shares of Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. UBS Group lifted their price objective on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. Wolfe Research began coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They set an "outperform" rating and a $24.00 price objective for the company. KeyCorp restated an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Finally, Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research note on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. According to MarketBeat, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $24.30.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $20.60 on Wednesday. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The stock has a market capitalization of $4.26 billion, a P/E ratio of 228.89, a price-to-earnings-growth ratio of 2.67 and a beta of 1.14. The firm's fifty day simple moving average is $18.59 and its two-hundred day simple moving average is $19.43. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analysts' expectations of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The business's quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the firm posted ($0.05) earnings per share. As a group, analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.

Insider Activity

In other news, insider Mark D. Kent purchased 14,848 shares of the business's stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average price of $13.31 per share, with a total value of $197,626.88. Following the completion of the transaction, the insider owned 14,848 shares of the company's stock, valued at $197,626.88. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hyong Kim sold 35,951 shares of the company's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total transaction of $713,986.86. Following the sale, the insider directly owned 331,750 shares in the company, valued at $6,588,555. This trade represents a 9.78% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,428,666 shares of company stock worth $27,752,485. 5.20% of the stock is owned by insiders.

About Alignment Healthcare

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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