Cinctive Capital Management LP Makes New Investment in Alignment Healthcare, Inc. $ALHC

Cinctive Capital Management LP purchased a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the third quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor purchased 218,589 shares of the company’s stock, valued at approximately $3,814,000. Cinctive Capital Management LP owned approximately 0.11% of Alignment Healthcare at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Teacher Retirement System of Texas increased its position in shares of Alignment Healthcare by 85.8% in the 3rd quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock valued at $1,794,000 after acquiring an additional 47,472 shares during the period. Y Intercept Hong Kong Ltd acquired a new stake in Alignment Healthcare during the 3rd quarter worth about $3,499,000. Inspire Investing LLC purchased a new stake in Alignment Healthcare during the 3rd quarter valued at about $1,129,000. Ameritas Investment Partners Inc. grew its stake in Alignment Healthcare by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock valued at $182,000 after purchasing an additional 3,225 shares during the last quarter. Finally, Picton Mahoney Asset Management acquired a new position in shares of Alignment Healthcare in the third quarter valued at about $6,873,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Insider Activity

In related news, President Dawn Christine Maroney sold 282,070 shares of the business’s stock in a transaction on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $5,285,991.80. Following the completion of the transaction, the president directly owned 1,385,167 shares in the company, valued at $25,958,029.58. The trade was a 16.92% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert L. Scavo sold 69,541 shares of the stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the sale, the insider directly owned 503,014 shares in the company, valued at $9,426,482.36. This trade represents a 12.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 2,066,821 shares of company stock valued at $40,250,493 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on ALHC. TD Cowen raised their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. UBS Group increased their price target on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a report on Wednesday, January 14th. Piper Sandler raised their price target on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. KeyCorp reaffirmed an “overweight” rating and issued a $28.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 22nd. Finally, Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. One investment analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $24.56.

Alignment Healthcare Stock Down 0.8%

Shares of ALHC opened at $16.99 on Monday. The company has a market capitalization of $3.47 billion, a price-to-earnings ratio of -1,697.30, a PEG ratio of 2.49 and a beta of 1.19. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87. The stock’s 50-day moving average price is $20.76 and its 200-day moving average price is $18.77. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.15) by $0.10. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The company had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. During the same period last year, the business earned ($0.16) earnings per share. Alignment Healthcare’s quarterly revenue was up 44.4% on a year-over-year basis. On average, sell-side analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Alignment Healthcare 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.