Granahan Investment Management LLC Purchases 168,758 Shares of Alignment Healthcare, Inc. $ALHC

Granahan Investment Management LLC lifted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 29.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 749,487 shares of the company's stock after acquiring an additional 168,758 shares during the quarter. Granahan Investment Management LLC owned 0.37% of Alignment Healthcare worth $14,802,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently made changes to their positions in ALHC. Parallel Advisors LLC grew its stake in Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock valued at $33,000 after purchasing an additional 773 shares during the last quarter. Larson Financial Group LLC purchased a new position in Alignment Healthcare in the third quarter valued at about $33,000. First Horizon Corp purchased a new position in Alignment Healthcare in the fourth quarter valued at about $39,000. GAMMA Investing LLC grew its stake in Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company's stock valued at $43,000 after purchasing an additional 987 shares during the last quarter. Finally, Wilmington Savings Fund Society FSB purchased a new position in Alignment Healthcare in the third quarter valued at about $53,000. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on ALHC shares. UBS Group lifted their target price on Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Zacks Research upgraded Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, April 28th. Weiss Ratings upgraded Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Finally, Wall Street Zen upgraded Alignment Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. One 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 stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and an average target price of $24.30.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Mark D. Kent purchased 14,848 shares of the company's stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the purchase, the insider owned 14,848 shares of the company's stock, valued at approximately $197,626.88. The trade was a ∞ increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the sale, the president owned 947,313 shares in the company, valued at $18,519,969.15. The trade was a 3.07% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 1,428,666 shares of company stock worth $27,752,485 over the last ninety days. Insiders own 5.20% of the company's stock.

Alignment Healthcare Price Performance

Shares of ALHC stock opened at $20.60 on Wednesday. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The firm has a market capitalization of $4.26 billion, a price-to-earnings ratio of 228.89, a PEG ratio of 2.67 and a beta of 1.14. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The stock's 50-day simple moving average is $18.59 and its 200-day simple moving average is $19.43.

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

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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