Alignment Healthcare, Inc. $ALHC Shares Sold by Millennium Management LLC

Key Points

• Millennium Management LLC has reduced its stake in Alignment Healthcare by 30.3%, bringing its ownership down to approximately 1.19%, valued at about $43.97 million.
• Recent insider transactions reveal significant sales, including a 6.36% decrease in ownership by insider Robert L. Scavo who sold 40,863 shares for over $621,000.
• Analysts have mixed views on Alignment Healthcare, with Barclays upgrading the stock to "equal weight" and raising the target price to $13, while others have downgraded it, leading to a consensus rating of "Moderate Buy" with an average price target of $18.83.

Millennium Management LLC lessened its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 30.3% in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 2,361,639 shares of the company's stock after selling 1,026,963 shares during the period. Millennium Management LLC owned 1.19% of Alignment Healthcare worth $43,974,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Teacher Retirement System of Texas grew its holdings in Alignment Healthcare by 109.1% during the first quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company's stock valued at $883,000 after purchasing an additional 24,755 shares during the last quarter. Northern Trust Corp grew its position in shares of Alignment Healthcare by 8.6% during the 4th 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 during the period. New York State Common Retirement Fund grew its position in shares of Alignment Healthcare by 100.9% in the 1st quarter. New York State Common Retirement Fund now owns 165,642 shares of the company's stock valued at $3,084,000 after purchasing an additional 83,187 shares during the period. Victory Capital Management Inc. boosted its position in Alignment Healthcare by 905.7% during the 1st quarter. Victory Capital Management Inc. now owns 114,397 shares of the company's stock worth $2,130,000 after acquiring an additional 103,022 shares during the last quarter. Finally, GAMMA Investing LLC boosted its holdings in shares of Alignment Healthcare by 3,216.9% in the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock valued at $443,000 after buying an additional 23,097 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Down 1.9%

Shares of NASDAQ:ALHC traded down $0.31 during trading on Friday, hitting $16.04. The company had a trading volume of 3,797,490 shares, compared to its average volume of 3,638,717. Alignment Healthcare, Inc. has a one year low of $9.15 and a one year high of $21.06. 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 stock has a market cap of $3.18 billion, a price-to-earnings ratio of -57.28 and a beta of 1.17. The company has a fifty day simple moving average of $14.40 and a two-hundred day simple moving average of $15.54.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly 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. Alignment Healthcare had a negative return on equity of 43.68% and a negative net margin of 1.53%.The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $960.25 million. During the same period last year, the business posted ($0.13) EPS. The business's revenue was up 49.0% compared to the same quarter last year. Alignment Healthcare has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. As a group, equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Christopher J. Joyce sold 30,939 shares of the stock in a transaction that occurred on Wednesday, September 10th. The stock was sold at an average price of $16.41, for a total value of $507,708.99. Following the completion of the transaction, the insider directly owned 343,592 shares in the company, valued at approximately $5,638,344.72. This represents a 8.26% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Dawn Christine Maroney sold 215,662 shares of the company's stock in a transaction on Wednesday, September 10th. The stock was sold at an average price of $16.41, for a total value of $3,539,013.42. Following the transaction, the president owned 1,797,237 shares in the company, valued at $29,492,659.17. This trade represents a 10.71% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,262,077 shares of company stock valued at $19,805,859. Insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

ALHC has been the subject of several research analyst reports. KeyCorp raised Alignment Healthcare from a "sector weight" rating to an "overweight" rating and set a $21.00 target price for the company in a research note on Monday, August 25th. Barclays raised Alignment Healthcare from an "underweight" rating to an "equal weight" rating and raised their target price for the company from $9.00 to $13.00 in a research report on Thursday, July 31st. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Zacks Research raised Alignment Healthcare to a "hold" rating in a report on Friday, August 8th. Finally, Wall Street Zen cut Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Sunday, August 10th. One equities research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $18.83.

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.