Investment House LLC Takes Position in Alignment Healthcare, Inc. $ALHC

Key Points

• Investment House LLC initiated a new position in Alignment Healthcare, buying 84,326 shares valued at about $1.67 million in the fourth quarter.
• Institutional ownership remains very high, with firms like Wellington Management, Invesco, Vanguard, and others significantly increasing their stakes; overall, 86.19% of the stock is held by institutional investors.
• Alignment Healthcare reported better-than-expected Q1 results, posting EPS of $0.05 versus $0.01 expected and revenue of $1.24 billion, up 33.3% year over year. Analysts currently rate the stock a Moderate Buy with a consensus target price of $24.60.

Investment House LLC bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 84,326 shares of the company's stock, valued at approximately $1,665,000.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Wellington Management Group LLP boosted its position in Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company's stock worth $193,516,000 after purchasing an additional 6,940,277 shares during the period. Invesco Ltd. boosted its position in Alignment Healthcare by 122.3% during the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company's stock worth $58,387,000 after purchasing an additional 2,294,739 shares during the period. Danica Pension Livsforsikringsaktieselskab bought a new position in Alignment Healthcare during the fourth quarter worth $39,500,000. Assenagon Asset Management S.A. boosted its position in Alignment Healthcare by 6,708.0% during the fourth quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company's stock worth $35,056,000 after purchasing an additional 1,748,903 shares during the period. Finally, Vanguard Group Inc. boosted its position in Alignment Healthcare by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock worth $305,983,000 after purchasing an additional 1,524,218 shares during the period. 86.19% of the stock is owned by institutional investors.

Insider Buying and Selling at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $482,700.00. Following the completion of the sale, the president owned 998,813 shares of the company's stock, valued at $16,070,901.17. This represents a 2.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO James M. Head sold 11,100 shares of the company's stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $21.08, for a total transaction of $233,988.00. Following the sale, the chief financial officer directly owned 173,495 shares of the company's stock, valued at $3,657,274.60. This represents a 6.01% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 1,569,859 shares of company stock valued at $29,433,158 over the last three months. 5.20% of the stock is owned by insiders.

Alignment Healthcare Trading Up 0.5%

Shares of Alignment Healthcare stock opened at $16.36 on Wednesday. The firm has a 50-day moving average of $18.93 and a 200-day moving average of $19.44. The stock has a market cap of $3.38 billion, a PE ratio of 181.78, a PEG ratio of 2.28 and a beta of 1.26. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $23.87. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. During the same quarter in the previous year, the business posted ($0.05) earnings per share. Alignment Healthcare's quarterly revenue was up 33.3% on a year-over-year basis. As a group, sell-side analysts forecast that Alignment Healthcare, Inc. will post 0.19 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on ALHC shares. Wolfe Research started 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. Zacks Research raised shares of Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. Robert W. Baird set a $28.00 price objective on shares of Alignment Healthcare in a research report on Friday, January 30th. UBS Group lifted their price objective on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a "neutral" rating in a research report on Friday, May 1st. Finally, KeyCorp reissued an "overweight" rating and issued a $28.00 target price on shares of Alignment Healthcare in a research report on Thursday, January 22nd. Two equities research analysts have rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $24.60.

Alignment Healthcare Company 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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