Royce & Associates LP Lowers Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Key Points

• Royce & Associates LP decreased its holdings in Alignment Healthcare, Inc. by 13.6%, owning approximately 0.34% of the company after selling 106,670 shares.
• Several institutional investors, including Wellington Management Group and T. Rowe Price, significantly increased their stakes in the company during the last quarter.
• Alignment Healthcare's stock received multiple target price increases from various brokerages, with Stifel Nicolaus raising its target from $18.00 to $23.00 and assigning a "buy" rating.

Royce & Associates LP lowered its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 13.6% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 675,010 shares of the company's stock after selling 106,670 shares during the period. Royce & Associates LP owned approximately 0.34% of Alignment Healthcare worth $12,569,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP lifted its position in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its position in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Millennium Management LLC increased its stake in shares of Alignment Healthcare by 588.3% in the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock worth $38,122,000 after purchasing an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. purchased a new stake in Alignment Healthcare in the 4th quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP purchased a new position in shares of Alignment Healthcare during the 4th quarter valued at $18,804,000. Institutional investors own 86.19% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently weighed in on ALHC. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Robert W. Baird lifted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. UBS Group upped their price target on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. One analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.17.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction that occurred on Monday, July 14th. The shares were sold at an average price of $13.44, for a total transaction of $403,200.00. Following the sale, the president directly owned 2,042,899 shares of the company's stock, valued at $27,456,562.56. This represents a 1.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,553,100 shares of the company's stock, valued at $20,827,071. This represents a 10.39% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,685,262 shares of company stock valued at $269,685,496. Insiders own 7.00% of the company's stock.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $11.76 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $7.92 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 2.95, a quick ratio of 1.69 and a current ratio of 1.69. The company has a fifty day moving average of $14.14 and a two-hundred day moving average of $15.32. The stock has a market capitalization of $2.33 billion, a PE ratio of -24.50 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The business's revenue was up 47.5% on a year-over-year basis. During the same period last year, the company posted ($0.25) EPS. As a group, research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.

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