Barclays PLC Sells 869,430 Shares of Alignment Healthcare, Inc. $ALHC

Barclays PLC lowered its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 39.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,347,734 shares of the company’s stock after selling 869,430 shares during the period. Barclays PLC owned about 0.67% of Alignment Healthcare worth $23,518,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in ALHC. Wilmington Savings Fund Society FSB purchased a new position in Alignment Healthcare in the third quarter valued at about $53,000. SBI Securities Co. Ltd. boosted its position in Alignment Healthcare by 4,868.9% during the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after purchasing an additional 2,970 shares during the period. KBC Group NV purchased a new position in shares of Alignment Healthcare in the second quarter worth about $44,000. PNC Financial Services Group Inc. raised its position in shares of Alignment Healthcare by 205.6% in the third quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $60,000 after purchasing an additional 2,327 shares during the period. Finally, State of Alaska Department of Revenue bought a new stake in shares of Alignment Healthcare in the third quarter valued at approximately $186,000. 86.19% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have issued reports on ALHC. TD Cowen boosted their target price on shares of Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a report on Friday, January 16th. Wall Street Zen cut Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a report on Friday, January 30th. Finally, KeyCorp reiterated an “overweight” rating and issued a $28.00 target price on shares of Alignment Healthcare in a research note on Thursday, January 22nd. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.56.

Insiders Place Their Bets

In other news, CEO John E. Kao sold 605,648 shares of the company’s stock in a transaction dated Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $11,349,843.52. Following the sale, the chief executive officer directly owned 2,234,294 shares of the company’s stock, valued at $41,870,669.56. This represents a 21.33% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert L. Scavo sold 69,541 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $1,303,198.34. Following the completion of 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. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 2,114,765 shares of company stock worth $41,420,083. Company insiders own 7.00% of the company’s stock.

Alignment Healthcare Trading Down 0.5%

ALHC stock opened at $18.01 on Thursday. The company has a market capitalization of $3.68 billion, a PE ratio of -1,799.20, a price-to-earnings-growth ratio of 2.65 and a beta of 1.18. Alignment Healthcare, Inc. has a one year low of $11.63 and a one year high of $23.87. The company’s 50 day moving average price is $20.88 and its two-hundred day moving average price is $18.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.71.

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