AlphaQuest LLC Has $411,000 Stake in Alignment Healthcare, Inc. $ALHC

AlphaQuest LLC raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 504.4% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 29,340 shares of the company’s stock after purchasing an additional 24,486 shares during the period. AlphaQuest LLC’s holdings in Alignment Healthcare were worth $411,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in ALHC. MCF Advisors LLC boosted its stake in Alignment Healthcare by 87.6% during the 1st quarter. MCF Advisors LLC now owns 2,165 shares of the company’s stock valued at $40,000 after purchasing an additional 1,011 shares during the last quarter. Skandinaviska Enskilda Banken AB publ acquired a new position in Alignment Healthcare during the 1st quarter valued at about $42,000. Signaturefd LLC lifted its position in shares of Alignment Healthcare by 142.6% during the 2nd quarter. Signaturefd LLC now owns 3,768 shares of the company’s stock worth $53,000 after buying an additional 2,215 shares in the last quarter. Amalgamated Bank lifted its position in shares of Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company’s stock worth $65,000 after buying an additional 616 shares in the last quarter. Finally, Greenleaf Trust bought a new position in shares of Alignment Healthcare during the 2nd quarter worth approximately $160,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have commented on ALHC. KeyCorp raised shares of Alignment Healthcare from a “sector weight” rating to an “overweight” rating and set a $21.00 target price on the stock in a research report on Monday, August 25th. Wall Street Zen cut shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Sunday, August 10th. The Goldman Sachs Group began coverage on shares of Alignment Healthcare in a research report on Tuesday, October 14th. They set a “buy” rating and a $21.00 target price on the stock. Zacks Research raised shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Monday, September 29th. Finally, Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, October 8th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $19.05.

Insider Buying and Selling

In related news, President Dawn Christine Maroney sold 215,662 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 10th. The shares were sold at an average price of $16.41, for a total value of $3,539,013.42. Following the sale, the president owned 1,797,237 shares of the company’s stock, valued at approximately $29,492,659.17. The trade was a 10.71% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 180,000 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $17.29, for a total value of $3,112,200.00. Following the sale, the chief executive officer owned 2,706,726 shares in the company, valued at approximately $46,799,292.54. This represents a 6.24% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 7,427,716 shares of company stock worth $119,650,069 in the last three months. Insiders own 7.00% of the company’s stock.

Alignment Healthcare Trading Up 0.9%

NASDAQ:ALHC opened at $18.21 on Thursday. The company has a current ratio of 1.66, a quick ratio of 1.66 and a debt-to-equity ratio of 2.29. The stock has a market capitalization of $3.61 billion, a PE ratio of -65.03 and a beta of 1.18. The firm’s 50 day moving average is $16.84 and its 200 day moving average is $15.54. Alignment Healthcare, Inc. has a 12 month low of $10.18 and a 12 month high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Wednesday, July 30th. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.07) by $0.14. The company had revenue of $1.02 billion for the quarter, compared to analysts’ expectations of $960.25 million. Alignment Healthcare had a negative net margin of 1.53% and a negative return on equity of 43.68%. Alignment Healthcare’s revenue was up 49.0% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.13) EPS. Sell-side analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current 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.