Pier Capital LLC Invests $3.97 Million in Alignment Healthcare, Inc. $ALHC

Key Points

• Pier Capital LLC bought a new stake of 227,342 shares in Alignment Healthcare (NASDAQ:ALHC) during Q3, valued at about $3.97 million and representing roughly 0.11% ownership.
• Corporate insiders sold 2,098,084 shares over the last three months (≈$41.1M), cutting insider ownership to about 7%, while institutional investors collectively own approximately 86.19% of the stock.
• Alignment posted revenue of $1.01B (up 44.4% YoY) and beat EPS estimates for the quarter but remains unprofitable; analysts have raised price targets and the consensus rating is a Moderate Buy with an average target of $24.56.

Pier Capital LLC bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm bought 227,342 shares of the company's stock, valued at approximately $3,967,000. Pier Capital LLC owned 0.11% of Alignment Healthcare as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. SBI Securities Co. Ltd. raised its holdings in Alignment Healthcare by 4,868.9% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company's stock worth $42,000 after purchasing an additional 2,970 shares during the period. KBC Group NV acquired a new stake in Alignment Healthcare in the second quarter valued at approximately $44,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $53,000. PNC Financial Services Group Inc. raised its stake in shares of Alignment Healthcare by 205.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company's stock worth $60,000 after buying an additional 2,327 shares during the period. Finally, Ameritas Investment Partners Inc. raised its stake in shares of Alignment Healthcare by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company's stock worth $182,000 after buying an additional 3,225 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Stock Down 4.9%

NASDAQ ALHC opened at $17.12 on Friday. The business has a fifty day moving average price of $20.82 and a 200 day moving average price of $18.72. Alignment Healthcare, Inc. has a one year low of $11.63 and a one year high of $23.87. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.71. The company has a market cap of $3.50 billion, a P/E ratio of -1,710.29, a P/E/G ratio of 2.63 and a beta of 1.18.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates of ($0.15) by $0.10. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. During the same quarter last year, the firm posted ($0.16) EPS. The firm's revenue for the quarter was up 44.4% on a year-over-year basis. Research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. TD Cowen lifted their price target on shares of Alignment Healthcare from $18.50 to $25.00 and gave the company a "buy" rating in a research note on Friday, January 16th. Wall Street Zen cut shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research report on Saturday, March 7th. Piper Sandler increased their price objective on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an "overweight" rating in a report on Tuesday, January 6th. JPMorgan Chase & Co. lifted their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, February 5th. Finally, UBS Group boosted their target price on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a "neutral" rating in a research note on Wednesday, January 14th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $24.56.

Insider Transactions at Alignment Healthcare

In related news, insider Robert L. Scavo sold 69,541 shares of the business's stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the transaction, the insider directly owned 503,014 shares in the company, valued at approximately $9,426,482.36. The trade was a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, President Dawn Christine Maroney sold 282,070 shares of the company's stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $5,285,991.80. Following the sale, the president directly owned 1,385,167 shares of the company's stock, valued at approximately $25,958,029.58. This represents a 16.92% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 2,098,084 shares of company stock valued at $41,086,129. Corporate insiders own 7.00% of the company's stock.

Alignment Healthcare Company Profile

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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