Mackenzie Financial Corp Buys 34,942 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Key Points

• Mackenzie Financial Corp increased its holdings in Alignment Healthcare, Inc. by 41.0% during the first quarter, owning a total of 120,117 shares valued at roughly $2.24 million.
• Several large investors also adjusted their positions in ALHC, with notable increases from MCF Advisors and CWM LLC, indicating a growing interest among institutional investors.
• Alignment Healthcare's stock recently reported a 5.9% decline, currently trading at $12.97, despite posting higher quarterly revenue of $1.02 billion, surpassing analysts' expectations.

Mackenzie Financial Corp boosted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 41.0% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 120,117 shares of the company's stock after acquiring an additional 34,942 shares during the quarter. Mackenzie Financial Corp owned 0.06% of Alignment Healthcare worth $2,237,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. MCF Advisors LLC raised its position in Alignment Healthcare by 87.6% in the first quarter. MCF Advisors LLC now owns 2,165 shares of the company's stock valued at $40,000 after purchasing an additional 1,011 shares during the period. Skandinaviska Enskilda Banken AB publ acquired a new position in Alignment Healthcare during the 1st quarter worth approximately $42,000. Amalgamated Bank boosted its holdings in Alignment Healthcare by 21.6% in the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after acquiring an additional 616 shares during the period. RiverPark Advisors LLC purchased a new position in Alignment Healthcare in the 4th quarter worth approximately $106,000. Finally, Tower Research Capital LLC TRC grew its position in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after acquiring an additional 6,286 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Insider Activity

In other news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of Alignment Healthcare stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the sale, the director owned 44,302,175 shares of the company's stock, valued at approximately $676,937,234. The trade was a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO John E. Kao sold 180,000 shares of the firm's stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $13.41, for a total value of $2,413,800.00. Following the completion of the sale, the chief executive officer owned 1,553,100 shares in the company, valued at approximately $20,827,071. This represents a 10.39% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,700,753 shares of company stock worth $269,911,757 in the last quarter. Company insiders own 7.00% of the company's stock.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC traded down $0.10 during mid-day trading on Thursday, hitting $13.61. The company had a trading volume of 1,280,553 shares, compared to its average volume of 3,013,680. Alignment Healthcare, Inc. has a 12 month low of $8.17 and a 12 month high of $21.06. The stock has a market cap of $2.70 billion, a price-to-earnings ratio of -48.44 and a beta of 1.16. The company has a debt-to-equity ratio of 2.29, a current ratio of 1.66 and a quick ratio of 1.66. The firm's 50 day simple moving average is $13.82 and its two-hundred day simple moving average is $15.31.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.07) by $0.14. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $960.25 million. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%. The firm's quarterly revenue was up 49.0% compared to the same quarter last year. During the same period last year, the business posted ($0.13) earnings per share. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

ALHC has been the subject of several analyst reports. Stephens upgraded shares of Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Wall Street Zen upgraded Alignment Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday, August 2nd. Robert W. Baird raised their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Barclays raised Alignment Healthcare from an "underweight" rating to an "equal weight" rating and upped their target price for the company from $9.00 to $13.00 in a research report on Thursday, July 31st. Finally, UBS Group increased their target price on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Four equities research analysts have rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, Alignment Healthcare presently 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.