Jupiter Topco LLC bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 79,155 shares of the company's stock, valued at approximately $1,885,000.
Other hedge funds also recently bought and sold shares of the company. Vanguard Group Inc. increased its position in shares of Alignment Healthcare by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock valued at $305,983,000 after acquiring an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP lifted its holdings in shares of Alignment Healthcare by 26.9% in the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company's stock worth $277,900,000 after acquiring an additional 2,981,166 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its holdings in shares of Alignment Healthcare by 0.6% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company's stock worth $249,715,000 after acquiring an additional 79,268 shares during the last quarter. William Blair Investment Management LLC purchased a new position in shares of Alignment Healthcare during the 2nd quarter worth approximately $184,799,000. Finally, Invesco Ltd. boosted its position in shares of Alignment Healthcare by 38.9% during the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company's stock worth $122,501,000 after purchasing an additional 1,735,962 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.
Alignment Healthcare Trading Down 0.3%
NASDAQ ALHC opened at $13.55 on Friday. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The firm has a market cap of $2.81 billion, a price-to-earnings ratio of 71.32 and a beta of 1.11. The firm has a 50 day simple moving average of $17.43 and a 200-day simple moving average of $18.33. Alignment Healthcare, Inc. has a one year low of $12.70 and a one year high of $25.12.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. The firm had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The firm's revenue for the quarter was up 31.6% on a year-over-year basis. During the same period in the prior year, the firm earned $0.07 EPS. Equities research analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several analysts recently weighed in on the stock. UBS Group reiterated a "neutral" rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. KeyCorp restated an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Raymond James Financial lowered Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and lowered their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Barclays dropped their price objective on Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating for the company in a research note on Tuesday, May 26th. Finally, Wall Street Zen downgraded Alignment Healthcare from a "buy" rating to a "hold" rating in a report on Saturday, August 1st. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average target price of $23.60.
Get Our Latest Research Report on ALHC
Insider Buying and Selling at Alignment Healthcare
In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the business's stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the completion of the transaction, the insider owned 331,750 shares in the company, valued at $6,588,555. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph Konowiecki sold 25,000 shares of the company's stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the sale, the executive vice president directly owned 1,103,816 shares in the company, valued at $26,491,584. This represents a 2.21% 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 90 days, insiders sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is currently owned by corporate insiders.
Alignment Healthcare Company Profile
(
Free Report)
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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Want to see what other hedge funds are holding ALHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report).
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