Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Algert Global LLC

Algert Global LLC cut its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 8.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 55,853 shares of the company’s stock after selling 4,865 shares during the quarter. Algert Global LLC’s holdings in Alignment Healthcare were worth $437,000 as of its most recent SEC filing.

Other large investors have also made changes to their positions in the company. Deerfield Management Company L.P. Series C increased its holdings in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares in the last quarter. William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare by 94.4% during the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Hood River Capital Management LLC raised its position in shares of Alignment Healthcare by 49.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after purchasing an additional 968,637 shares during the last quarter. Renaissance Technologies LLC lifted its stake in Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after buying an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC acquired a new stake in Alignment Healthcare in the 2nd quarter worth about $1,512,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the transaction, the insider now owns 1,789,023 shares of the company’s stock, valued at $16,136,987.46. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. In other news, CFO Robert Thomas Freeman sold 22,100 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total transaction of $221,000.00. Following the completion of the transaction, the chief financial officer now directly owns 497,329 shares in the company, valued at $4,973,290. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of the business’s stock in a transaction on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the sale, the insider now owns 1,789,023 shares in the company, valued at $16,136,987.46. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 290,015 shares of company stock valued at $2,907,113. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on ALHC shares. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen lifted their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Barclays increased their target price on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research report on Monday, August 5th. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $9.83.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $10.85 on Tuesday. The company’s 50-day moving average is $9.77 and its two-hundred day moving average is $7.92. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $12.36. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $2.07 billion, a price-to-earnings ratio of -12.73 and a beta of 1.47.

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