Jupiter Asset Management Ltd. Increases Stake in Alignment Healthcare, Inc. $ALHC

Key Points

• Jupiter Asset Management increased its stake in Alignment Healthcare by 264.1% in the fourth quarter, ending with 765,233 shares valued at about $15.1 million.
• Other institutional investors also added to or initiated positions, and 86.19% of Alignment Healthcare is now owned by hedge funds and other institutions.
• The company reported better-than-expected Q1 results, with earnings of $0.05 per share and revenue of $1.24 billion, while analysts currently rate the stock Moderate Buy with an average price target of $24.30.

Jupiter Asset Management Ltd. lifted its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 264.1% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 765,233 shares of the company's stock after purchasing an additional 555,063 shares during the quarter. Jupiter Asset Management Ltd. owned 0.38% of Alignment Healthcare worth $15,113,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently modified their holdings of ALHC. Teacher Retirement System of Texas boosted its holdings in shares of Alignment Healthcare by 85.8% during the 3rd quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company's stock valued at $1,794,000 after acquiring an additional 47,472 shares during the last quarter. Hudson Bay Capital Management LP purchased a new stake in Alignment Healthcare in the third quarter worth approximately $4,581,000. Cinctive Capital Management LP bought a new stake in Alignment Healthcare in the 3rd quarter worth approximately $3,814,000. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company's stock valued at $243,752,000 after buying an additional 664,769 shares during the period. Finally, William Blair Investment Management LLC grew its holdings in shares of Alignment Healthcare by 43.4% in the third quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company's stock worth $36,993,000 after acquiring an additional 641,381 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 36,749 shares of the stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the sale, the president owned 1,058,813 shares in the company, valued at approximately $18,889,223.92. This represents a 3.35% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO John E. Kao sold 298,000 shares of the business's stock in a transaction on Monday, May 11th. The shares were sold at an average price of $16.89, for a total transaction of $5,033,220.00. Following the transaction, the chief executive officer owned 1,508,641 shares in the company, valued at $25,480,946.49. This trade represents a 16.49% 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. In the last three months, insiders have sold 1,569,859 shares of company stock worth $29,433,158. Corporate insiders own 5.20% of the company's stock.

Alignment Healthcare Stock Down 3.4%

Shares of ALHC opened at $15.32 on Friday. The business's 50 day simple moving average is $18.67 and its 200-day simple moving average is $19.38. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 170.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. Alignment Healthcare's quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) earnings per share. As a group, equities analysts expect that Alignment Healthcare, Inc. will post 0.19 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on ALHC shares. Weiss Ratings raised Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a research report on Thursday, May 7th. UBS Group boosted their price objective on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a research report on Friday, May 1st. Wall Street Zen raised Alignment Healthcare from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the stock an "overweight" rating in a research note on Thursday, February 5th. Finally, Raymond James Financial set a $22.00 price objective on Alignment Healthcare in a research note on Thursday, May 7th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $24.30.

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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