Simplify Asset Management Inc. Trims Stake in Alignment Healthcare, Inc. $ALHC

Key Points

• Simplify Asset Management cut its Alignment Healthcare stake by 26.6% in the first quarter, selling 69,848 shares and ending with 193,032 shares worth about $3.4 million.
• Several insiders sold shares recently, including CEO John E. Kao and insider Hyong Kim, bringing total insider sales over the last three months to 1.33 million shares worth about $26.3 million.
• Alignment Healthcare reported strong quarterly results, beating EPS and revenue estimates, while analysts currently rate the stock a “Moderate Buy” with a consensus target price of $24.30.

Simplify Asset Management Inc. reduced its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 26.6% during the first quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 193,032 shares of the company's stock after selling 69,848 shares during the quarter. Simplify Asset Management Inc. owned approximately 0.09% of Alignment Healthcare worth $3,401,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. New York State Teachers Retirement System bought a new position in shares of Alignment Healthcare during the 1st quarter valued at approximately $259,000. Strs Ohio raised its stake in Alignment Healthcare by 10.2% during the 1st quarter. Strs Ohio now owns 24,900 shares of the company's stock worth $439,000 after acquiring an additional 2,300 shares during the period. Pictet Asset Management Holding SA raised its stake in Alignment Healthcare by 9.6% during the 1st quarter. Pictet Asset Management Holding SA now owns 28,346 shares of the company's stock worth $499,000 after acquiring an additional 2,473 shares during the period. OP Asset Management Ltd purchased a new position in Alignment Healthcare during the first quarter valued at approximately $127,000. Finally, Campbell Newman Asset Management Inc. purchased a new position in Alignment Healthcare during the first quarter valued at approximately $1,844,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Hyong Kim sold 35,951 shares of the company's stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $19.86, for a total transaction of $713,986.86. Following the sale, the insider directly owned 331,750 shares in the company, valued at approximately $6,588,555. This represents a 9.78% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the stock in a transaction dated Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the completion of the transaction, the chief executive officer directly owned 1,386,766 shares of the company's stock, valued at approximately $28,234,555.76. The trade was a 17.69% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,331,051 shares of company stock worth $26,333,006 over the last three months. 5.20% of the stock is owned by company insiders.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $23.80 on Friday. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. The company has a market capitalization of $4.92 billion, a P/E ratio of 264.44, a P/E/G ratio of 3.21 and a beta of 1.05. Alignment Healthcare, Inc. has a one year low of $11.63 and a one year high of $24.30. The stock has a 50 day moving average price of $19.02 and a 200-day moving average price of $19.73.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, beating analysts' consensus estimates of $0.01 by $0.04. The firm had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. Alignment Healthcare's revenue for the quarter was up 33.3% compared to the same quarter last year. During the same period last year, the firm posted ($0.05) earnings per share. As a group, equities analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

ALHC has been the subject of a number of analyst reports. KeyCorp reissued an "overweight" rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Barclays lowered their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an "equal weight" rating on the stock in a research note on Tuesday, May 26th. Wolfe Research began coverage on shares of Alignment Healthcare in a report on Friday, April 17th. They issued an "outperform" rating and a $24.00 target price for the company. Wall Street Zen upgraded Alignment Healthcare from a "hold" rating to a "buy" rating in a research note on Saturday, May 9th. Finally, 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. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Alignment Healthcare has an average rating of "Moderate Buy" and a consensus target price of $24.30.

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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