William Blair Investment Management LLC Buys 185,303 Shares of Alignment Healthcare, Inc. $ALHC

Key Points

• William Blair Investment Management increased its stake in Alignment Healthcare by 8.7% in the fourth quarter, buying 185,303 more shares and bringing its total holding to 2.31 million shares worth about $45.5 million.
• Insider selling picked up, with President Dawn Christine Maroney and insider Christopher J. Joyce both selling shares recently; insiders have sold 1.57 million shares in the last quarter overall.
• Alignment Healthcare beat earnings expectations in its latest quarter, reporting $0.05 EPS versus $0.01 expected and revenue of $1.24 billion, up 33.3% year over year, while analysts currently rate the stock a “Moderate Buy.”

William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 8.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 2,305,255 shares of the company's stock after acquiring an additional 185,303 shares during the quarter. William Blair Investment Management LLC owned about 1.15% of Alignment Healthcare worth $45,529,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Larson Financial Group LLC bought a new position in shares of Alignment Healthcare during the third quarter worth $33,000. First Horizon Corp bought a new position in shares of Alignment Healthcare during the fourth quarter worth $39,000. GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 83.8% during the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company's stock worth $43,000 after acquiring an additional 987 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new position in shares of Alignment Healthcare during the third quarter worth $53,000. Finally, PNC Financial Services Group Inc. boosted its position in shares of Alignment Healthcare by 205.6% during the third quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company's stock worth $60,000 after acquiring an additional 2,327 shares during the last quarter. Institutional investors own 86.19% of the company's stock.

Insiders Place Their Bets

In other news, insider Christopher J. Joyce sold 18,013 shares of the 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 sale, the insider owned 305,451 shares of the company's stock, valued at approximately $5,433,973.29. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Friday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $482,700.00. Following the completion of the sale, the president directly owned 998,813 shares in the company, valued at approximately $16,070,901.17. This represents a 2.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 1,569,859 shares of company stock valued at $29,433,158. 5.20% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on ALHC shares. Robert W. Baird set a $28.00 price target on shares of Alignment Healthcare in a research note on Friday, January 30th. Barclays upped their price target on shares of Alignment Healthcare from $18.00 to $19.00 and gave the company an "equal weight" rating in a research note on Friday, May 1st. Weiss Ratings raised shares of Alignment Healthcare from a "sell (d-)" rating to a "hold (c-)" rating in a research note on Thursday, May 7th. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research note on Thursday, May 7th. Finally, UBS Group upped their price target on shares of Alignment Healthcare from $21.00 to $22.00 and gave the company a "neutral" rating in a research note on Friday, May 1st. 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's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.60.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $16.35 on Monday. The company has a market cap of $3.38 billion, a price-to-earnings ratio of 181.67, a PEG ratio of 2.29 and a beta of 1.26. The firm's fifty day moving average is $18.84 and its 200 day moving average is $19.43. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $23.87.

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

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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