8 Knots Management LLC Sells 2,122,788 Shares of Alignment Healthcare, Inc. $ALHC

8 Knots Management LLC lowered its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 42.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,893,093 shares of the company’s stock after selling 2,122,788 shares during the quarter. Alignment Healthcare accounts for about 5.7% of 8 Knots Management LLC’s investment portfolio, making the stock its 9th biggest position. 8 Knots Management LLC owned about 1.45% of Alignment Healthcare worth $50,484,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Alignment Healthcare by 5.0% during the 3rd quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock worth $243,752,000 after purchasing an additional 664,769 shares in the last quarter. Wellington Management Group LLP boosted its position in Alignment Healthcare by 167.3% in the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after buying an additional 6,940,277 shares in the last quarter. Hood River Capital Management LLC grew its stake in Alignment Healthcare by 6.0% during the second quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock worth $77,243,000 after buying an additional 311,424 shares during the last quarter. Invesco Ltd. increased its holdings in shares of Alignment Healthcare by 7.1% during the third quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock worth $77,943,000 after buying an additional 296,101 shares in the last quarter. Finally, Voya Investment Management LLC increased its holdings in shares of Alignment Healthcare by 61.0% during the third quarter. Voya Investment Management LLC now owns 3,196,297 shares of the company’s stock worth $55,775,000 after buying an additional 1,210,930 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on ALHC. Robert W. Baird set a $28.00 price objective on Alignment Healthcare in a research report on Friday, January 30th. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. KeyCorp reiterated an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 22nd. Finally, Piper Sandler increased their price objective on shares of Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.56.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $16.99 on Friday. 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, Inc. has a twelve month low of $11.63 and a twelve month high of $23.87. The firm’s 50 day moving average price is $20.76 and its two-hundred day moving average price is $18.75. The firm has a market cap of $3.47 billion, a P/E ratio of -1,697.30, a PEG ratio of 2.49 and a beta of 1.18.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) 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 firm had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. During the same quarter last year, the business posted ($0.16) EPS. The company’s revenue for the quarter was up 44.4% on a year-over-year basis. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In related news, insider Andreas P. Wagner sold 21,118 shares of the company’s stock in a transaction dated Wednesday, March 4th. The shares were sold at an average price of $18.62, for a total value of $393,217.16. Following the transaction, the insider owned 148,687 shares in the company, valued at approximately $2,768,551.94. This represents a 12.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 29,113 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $17.45, for a total value of $508,021.85. Following the transaction, the president owned 963,702 shares in the company, valued at approximately $16,816,599.90. This trade represents a 2.93% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 2,180,140 shares of company stock worth $42,518,007. 7.00% of the stock is owned by insiders.

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.