Rhumbline Advisers Acquires 16,083 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Rhumbline Advisers increased its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 13.3% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 137,296 shares of the company’s stock after acquiring an additional 16,083 shares during the quarter. Rhumbline Advisers owned 0.07% of Alignment Healthcare worth $1,074,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Vanguard Group Inc. increased its stake in Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Hood River Capital Management LLC grew its stake in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after buying an additional 968,637 shares during the period. Charles Schwab Investment Management Inc. increased its position in Alignment Healthcare by 1.4% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after buying an additional 10,123 shares in the last quarter. Bank of New York Mellon Corp raised its stake in Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after buying an additional 82,559 shares during the period. Finally, Blue Trust Inc. boosted its holdings in Alignment Healthcare by 47.4% in the first quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after acquiring an additional 82,476 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the subject of several recent research reports. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Bank of America upgraded shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and lifted their price objective for the company from $7.75 to $11.00 in a report on Thursday, May 30th. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. Finally, Robert W. Baird lifted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

Insider Transactions at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 14,500 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $174,000.00. Following the completion of the transaction, the chief financial officer now owns 264,429 shares in the company, valued at $3,173,148. The transaction was disclosed in a document filed with the SEC, which is available through this link. In related news, CFO Robert Thomas Freeman sold 14,500 shares of Alignment Healthcare stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.00, for a total value of $174,000.00. Following the sale, the chief financial officer now owns 264,429 shares of the company’s stock, valued at approximately $3,173,148. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Hakan Kardes sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $11.48, for a total value of $287,000.00. Following the completion of the sale, the insider now directly owns 380,444 shares of the company’s stock, valued at $4,367,497.12. The disclosure for this sale can be found here. Insiders have sold 268,639 shares of company stock worth $2,676,719 in the last ninety days. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $11.43 on Monday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $12.36. The company’s 50 day moving average price is $9.47 and its two-hundred day moving average price is $7.48. The stock has a market cap of $2.19 billion, a P/E ratio of -13.61 and a beta of 1.43. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. During the same period last year, the business posted ($0.15) earnings per share. Alignment Healthcare’s revenue was up 47.3% on a year-over-year basis. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.67 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.