Simplify Asset Management Inc. Has $5.19 Million Stake in Alignment Healthcare, Inc. $ALHC

Key Points

• Simplify Asset Management nearly doubled its stake in Alignment Healthcare in the fourth quarter, boosting its holdings by 92% to 262,880 shares worth about $5.19 million.
• Alignment Healthcare reported strong first-quarter results, posting EPS of $0.05 versus a $0.01 estimate and revenue of $1.24 billion, up 33.3% year over year.
• Several analysts remain constructive on the stock, with a Moderate Buy consensus and an average price target of $24.60, even as insiders have sold shares in recent months.

Simplify Asset Management Inc. boosted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 92.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 262,880 shares of the company's stock after purchasing an additional 125,946 shares during the period. Simplify Asset Management Inc. owned 0.13% of Alignment Healthcare worth $5,192,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. William Blair Investment Management LLC increased its holdings in Alignment Healthcare by 8.7% during the 4th quarter. William Blair Investment Management LLC now owns 2,305,255 shares of the company's stock valued at $45,529,000 after purchasing an additional 185,303 shares in the last quarter. Investment House LLC acquired a new stake in Alignment Healthcare during the 4th quarter valued at $1,665,000. PNC Financial Services Group Inc. increased its holdings in Alignment Healthcare by 203.1% during the 4th quarter. PNC Financial Services Group Inc. now owns 10,483 shares of the company's stock valued at $207,000 after purchasing an additional 7,024 shares in the last quarter. GSA Capital Partners LLP increased its holdings in Alignment Healthcare by 162.7% during the 4th quarter. GSA Capital Partners LLP now owns 86,227 shares of the company's stock valued at $1,703,000 after purchasing an additional 53,402 shares in the last quarter. Finally, Handelsbanken Fonder AB increased its holdings in Alignment Healthcare by 26.1% during the 4th quarter. Handelsbanken Fonder AB now owns 30,000 shares of the company's stock valued at $592,000 after purchasing an additional 6,200 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CFO James M. Head sold 11,100 shares of Alignment Healthcare stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $21.08, for a total value of $233,988.00. Following the completion of the sale, the chief financial officer directly owned 173,495 shares of the company's stock, valued at approximately $3,657,274.60. This trade represents a 6.01% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Christopher J. Joyce sold 18,013 shares of Alignment Healthcare stock in a transaction on Wednesday, April 1st. The shares were sold at an average price of $17.79, for a total value of $320,451.27. Following the completion of the sale, the insider directly owned 305,451 shares of the company's stock, valued at $5,433,973.29. This trade represents a 5.57% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 1,569,859 shares of company stock worth $29,433,158. 5.20% of the stock is currently owned by company insiders.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $16.35 on Monday. The stock has a fifty day moving average of $18.84 and a 200-day moving average of $19.43. The stock has a market capitalization of $3.38 billion, a P/E ratio of 181.67, a price-to-earnings-growth ratio of 2.29 and a beta of 1.26. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts' expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The business's revenue for the quarter was up 33.3% on a year-over-year basis. During the same period last year, the firm earned ($0.05) EPS. On average, equities research analysts forecast that Alignment Healthcare, Inc. will post 0.19 EPS for the current year.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of recent analyst reports. Wall Street Zen raised Alignment Healthcare from a "hold" rating to a "buy" rating in a report on Saturday, May 9th. UBS Group raised their price target on Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a report on Friday, May 1st. JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $23.00 to $26.00 and gave the company an "overweight" rating in a report on Thursday, February 5th. Wolfe Research initiated coverage on Alignment Healthcare in a report on Friday, April 17th. They set an "outperform" rating and a $24.00 price target for the company. Finally, Raymond James Financial set a $22.00 price target on Alignment Healthcare in a report on Thursday, May 7th. Two research analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have assigned a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $24.60.

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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