The Manufacturers Life Insurance Company purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 202,726 shares of the company's stock, valued at approximately $4,827,000. The Manufacturers Life Insurance Company owned approximately 0.10% of Alignment Healthcare at the end of the most recent reporting period.
Several other institutional investors and hedge funds also recently modified their holdings of ALHC. Summit Securities Group LLC bought a new position in shares of Alignment Healthcare during the fourth quarter worth about $26,000. Versant Capital Management Inc lifted its stake in Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company's stock valued at $33,000 after acquiring an additional 1,135 shares in the last quarter. Parallel Advisors LLC lifted its stake in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company's stock valued at $33,000 after acquiring an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new position in Alignment Healthcare during the 3rd quarter worth approximately $33,000. Finally, Signature Equity Partners LLC acquired a new position in Alignment Healthcare during the 1st quarter worth approximately $46,000. 86.19% of the stock is owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Alignment Healthcare from $26.00 to $22.00 and set an "overweight" rating on the stock in a report on Tuesday, August 4th. UBS Group reaffirmed a "neutral" rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Alignment Healthcare from a "strong-buy" rating to a "hold" rating in a research report on Monday, July 6th. Wall Street Zen lowered shares of Alignment Healthcare from a "buy" rating to a "hold" rating in a research note on Saturday, August 1st. Finally, Raymond James Financial cut shares of Alignment Healthcare from a "strong-buy" rating to an "outperform" rating and cut their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $23.60.
Check Out Our Latest Research Report on Alignment Healthcare
Insiders Place Their Bets
In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the firm's stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total transaction of $713,986.86. Following the completion of the sale, the insider owned 331,750 shares of the company's stock, valued at $6,588,555. This trade represents a 9.78% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction on Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total transaction of $600,000.00. Following the transaction, the executive vice president directly owned 1,103,816 shares of the company's stock, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. 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 valued at $18,597,287 over the last 90 days. 5.20% of the stock is owned by insiders.
Alignment Healthcare Trading Down 1.6%
Alignment Healthcare stock opened at $13.40 on Tuesday. The stock has a 50-day simple moving average of $17.93 and a 200 day simple moving average of $18.47. The stock has a market capitalization of $2.78 billion, a P/E ratio of 70.53 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. Alignment Healthcare, Inc. has a 52 week low of $12.70 and a 52 week high of $25.12.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. The business's revenue for the quarter was up 31.6% compared to the same quarter last year. Analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.
Alignment Healthcare Company Profile
(
Free Report)
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.
Further Reading
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