Osterweis Capital Management Inc. Purchases New Position in Alignment Healthcare, Inc. $ALHC

Key Points

• Osterweis Capital Management acquired 604,000 shares of Alignment Healthcare worth approximately $14.4 million, representing about 0.29% of the company. Institutional investors collectively own 86.19% of ALHC.
• Alignment Healthcare reported quarterly EPS of $0.17, beating estimates by $0.04, while revenue rose 31.6% year over year to $1.34 billion. Analysts maintain a consensus “Moderate Buy” rating with a $23.60 price target.
• Despite institutional buying, company insiders sold more than 1 million shares worth approximately $18.6 million last quarter, including CEO John E. Kao’s sale of 298,000 shares under a pre-arranged trading plan.

Osterweis Capital Management Inc. acquired a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 604,000 shares of the company's stock, valued at approximately $14,381,000. Osterweis Capital Management Inc. owned approximately 0.29% of Alignment Healthcare at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in ALHC. Vanguard Group Inc. lifted its holdings in shares of Alignment Healthcare by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock valued at $305,983,000 after purchasing an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP grew its stake in Alignment Healthcare by 26.9% during the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company's stock worth $277,900,000 after buying an additional 2,981,166 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Alignment Healthcare by 0.6% during 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 buying an additional 79,268 shares during the last quarter. William Blair Investment Management LLC acquired a new position in Alignment Healthcare during the second quarter worth approximately $184,799,000. Finally, Invesco Ltd. increased its position in Alignment Healthcare by 38.9% during the fourth quarter. Invesco Ltd. now owns 6,202,592 shares of the company's stock worth $122,501,000 after buying 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 Stock Up 2.1%

ALHC opened at $13.43 on Tuesday. Alignment Healthcare, Inc. has a 52 week low of $12.70 and a 52 week high of $25.12. The business has a 50 day moving average price of $18.71 and a two-hundred day moving average price of $18.73. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The company has a market cap of $2.79 billion, a PE ratio of 70.69 and a beta of 1.10.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The business had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company's revenue for the quarter was up 31.6% compared to the same quarter last year. As a group, research analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on ALHC. TD Cowen reissued a "buy" rating on shares of Alignment Healthcare in a report on Monday, August 3rd. Zacks Research cut shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a report on Monday, July 6th. KeyCorp reiterated an "overweight" rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Raymond James Financial cut shares of Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and decreased their price target for the stock from $22.00 to $19.00 in a research note on Monday, August 3rd. Finally, Weiss Ratings reissued a "hold (c-)" rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. Seven research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company's stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $23.60.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 298,000 shares of the firm's stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.88, for a total value of $4,136,240.00. Following the completion of the sale, the chief executive officer owned 790,766 shares in the company, valued at approximately $10,975,832.08. This trade represents a 27.37% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $19.55, for a total transaction of $586,500.00. Following the completion of the sale, the president directly owned 947,313 shares in the company, valued at approximately $18,519,969.15. The trade was a 3.07% 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. Insiders sold a total of 1,009,951 shares of company stock worth $18,597,287 over the last quarter. 5.20% of the stock is currently owned by corporate insiders.

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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