Invesco Ltd. Raises Stock Holdings in Alignment Healthcare, Inc. $ALHC

Key Points

• Invesco Ltd. significantly increased its stake in Alignment Healthcare by 1,415.7%, owning approximately 0.95% of the company, worth around $34.93 million after acquiring over 1.75 million additional shares.
• Other institutional investors also boosted their holdings in Alignment Healthcare, with notable increases from the Teacher Retirement System of Texas and Victory Capital Management Inc., contributing to the overall institutional ownership of 86.19% in the company.
• Alignment Healthcare reported a revenue growth of 49.0% year-over-year, exceeding analyst expectations with $1.02 billion in revenue for the quarter, while its earnings per share beat consensus estimates.

Invesco Ltd. grew its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 1,415.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,875,790 shares of the company's stock after buying an additional 1,752,033 shares during the quarter. Invesco Ltd. owned approximately 0.95% of Alignment Healthcare worth $34,927,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Teacher Retirement System of Texas increased its position in Alignment Healthcare by 109.1% in the first quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company's stock worth $883,000 after buying 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 boosted its stake in shares of 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 acquiring an additional 23,097 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $15.29 on Tuesday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.29. The company has a market capitalization of $3.03 billion, a P/E ratio of -54.61 and a beta of 1.16. Alignment Healthcare, Inc. has a 12 month low of $8.24 and a 12 month high of $21.06. The business's 50-day moving average is $13.74 and its 200 day moving average is $15.30.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analysts' expectations of $960.25 million. During the same period in the prior year, the company earned ($0.13) EPS. The business's revenue was up 49.0% compared to the same quarter last year. On average, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In related news, Director Joseph S. Konowiecki sold 25,000 shares of the firm'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 completion of the sale, the director directly owned 1,152,049 shares in the company, valued at $18,432,784. This trade represents a 2.12% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Hyong Kim sold 18,600 shares of the stock in a transaction on Monday, August 11th. The shares were sold at an average price of $14.54, for a total transaction of $270,444.00. Following the completion of the sale, the insider directly owned 490,767 shares in the company, valued at approximately $7,135,752.18. This represents a 3.65% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 599,353 shares of company stock valued at $8,640,501. Corporate insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ALHC shares. Wall Street Zen lowered Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. UBS Group upped their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Stephens raised Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Barclays raised 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. Finally, Zacks Research raised Alignment Healthcare to a "hold" rating in a research note on Friday, August 8th. Six investment analysts have rated the stock with a hold rating, five have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and an average price target of $18.56.

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.

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