Hood River Capital Management LLC Boosts Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Hood River Capital Management LLC raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 6.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,106,690 shares of the company’s stock after buying an additional 185,854 shares during the quarter. Hood River Capital Management LLC owned about 1.62% of Alignment Healthcare worth $24,294,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. boosted its position in shares of Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after acquiring an additional 93,262 shares during the last quarter. William Blair Investment Management LLC boosted its holdings in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Renaissance Technologies LLC grew its position in shares of Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Charles Schwab Investment Management Inc. increased its holdings in shares of Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock worth $6,469,000 after purchasing an additional 10,123 shares during the last quarter. Finally, Bank of New York Mellon Corp lifted its position in shares of Alignment Healthcare by 27.5% in the second 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 in the last quarter. Institutional investors own 86.19% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Robert Thomas Freeman sold 14,500 shares of the business’s stock in a transaction on 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 sale, the chief financial officer now directly owns 264,429 shares of the company’s stock, valued at $3,173,148. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CFO Robert Thomas Freeman sold 14,500 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $12.00, for a total transaction of $174,000.00. Following the transaction, the chief financial officer now directly owns 264,429 shares of the company’s stock, valued at $3,173,148. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher J. Joyce sold 15,034 shares of Alignment Healthcare stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $136,057.70. Following the sale, the insider now directly owns 406,912 shares of the company’s stock, valued at approximately $3,682,553.60. The disclosure for this sale can be found here. Insiders have sold a total of 268,639 shares of company stock worth $2,676,719 over the last quarter. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Price Performance

ALHC stock opened at $11.43 on Monday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $12.36. The stock has a market cap of $2.19 billion, a PE ratio of -13.61 and a beta of 1.43. The company has a 50-day moving average price of $9.47 and a 200 day moving average price of $7.48.

Alignment Healthcare (NASDAQ:ALHC) last released its 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 firm had revenue of $681.29 million for the quarter, compared to analysts’ expectations of $637.66 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

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.