Algert Global LLC Acquires 72,561 Shares of Alignment Healthcare, Inc. $ALHC

Algert Global LLC grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 18.1% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 473,065 shares of the company’s stock after acquiring an additional 72,561 shares during the quarter. Algert Global LLC owned 0.24% of Alignment Healthcare worth $8,255,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Ameriprise Financial Inc. grew its stake in shares of Alignment Healthcare by 82.5% in the third quarter. Ameriprise Financial Inc. now owns 1,947,312 shares of the company’s stock worth $33,981,000 after acquiring an additional 880,056 shares during the last quarter. Creative Planning raised its stake in Alignment Healthcare by 114.7% during the 3rd quarter. Creative Planning now owns 77,826 shares of the company’s stock valued at $1,358,000 after purchasing an additional 41,581 shares during the last quarter. Freestone Grove Partners LP raised its stake in Alignment Healthcare by 121.9% during the 3rd quarter. Freestone Grove Partners LP now owns 1,207,987 shares of the company’s stock valued at $21,079,000 after purchasing an additional 663,641 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Alignment Healthcare by 31.3% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 46,841 shares of the company’s stock valued at $817,000 after purchasing an additional 11,171 shares during the period. Finally, Balyasny Asset Management L.P. boosted its holdings in Alignment Healthcare by 117.8% in the 3rd quarter. Balyasny Asset Management L.P. now owns 1,630,820 shares of the company’s stock valued at $28,458,000 after purchasing an additional 882,028 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on ALHC. Robert W. Baird set a $28.00 price objective on shares of Alignment Healthcare in a report on Friday, January 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. TD Cowen lifted their target price on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research report on Friday, January 16th. UBS Group boosted their price target on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research note on Wednesday, January 14th. Finally, KeyCorp reaffirmed an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average price target of $24.56.

Insider Transactions at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 29,113 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $17.45, for a total transaction of $508,021.85. Following the completion of the sale, the president directly owned 963,702 shares of the company’s stock, valued at $16,816,599.90. The trade was a 2.93% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Robert L. Scavo sold 4,044 shares of the stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $17.45, for a total transaction of $70,567.80. Following the completion of the transaction, the insider owned 498,970 shares in the company, valued at $8,707,026.50. This represents a 0.80% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 2,066,821 shares of company stock valued at $40,250,493. 6.60% of the stock is owned by company insiders.

Alignment Healthcare Stock Performance

ALHC stock opened at $17.51 on Tuesday. The company has a 50 day moving average price of $20.69 and a 200 day moving average price of $18.78. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $3.58 billion, a PE ratio of -1,749.25, a price-to-earnings-growth ratio of 2.49 and a beta of 1.19.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The business’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same period last year, the company earned ($0.16) EPS. Analysts forecast 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.