Cinctive Capital Management LP Takes Position in Alignment Healthcare, Inc. $ALHC

Cinctive Capital Management LP purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 218,589 shares of the company’s stock, valued at approximately $3,814,000.

Several other large investors have also recently made changes to their positions in ALHC. Vanguard Group Inc. raised its stake in Alignment Healthcare by 5.0% in the 3rd quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock valued at $243,752,000 after purchasing an additional 664,769 shares during the last quarter. Wellington Management Group LLP boosted its stake in Alignment Healthcare by 167.3% during the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares during the last quarter. Hood River Capital Management LLC grew its holdings in shares of 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 in the last quarter. 8 Knots Management LLC grew its holdings in shares of Alignment Healthcare by 6.4% during the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after buying an additional 300,409 shares in the last quarter. Finally, Invesco Ltd. raised its position in shares of Alignment Healthcare by 7.1% in the third quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock valued at $77,943,000 after buying an additional 296,101 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Robert L. Scavo sold 69,541 shares of Alignment Healthcare stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the sale, the insider owned 503,014 shares of the company’s stock, valued at approximately $9,426,482.36. The trade was a 12.15% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, President Dawn Christine Maroney sold 282,070 shares of the company’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $5,285,991.80. Following the completion of the transaction, the president owned 1,385,167 shares in the company, valued at $25,958,029.58. This represents a 16.92% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 2,066,821 shares of company stock worth $40,250,493 in the last ninety days. 6.60% of the stock is owned by insiders.

Alignment Healthcare Stock Down 0.8%

NASDAQ ALHC opened at $16.99 on Monday. The business’s fifty day simple moving average is $20.76 and its 200-day simple moving average is $18.77. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. The firm has a market cap of $3.47 billion, a PE ratio of -1,697.30, a P/E/G ratio of 2.49 and a beta of 1.19. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 firm had revenue of $1.01 billion during the quarter, compared to analyst estimates of $1 billion. During the same quarter in the prior year, the firm posted ($0.16) earnings per share. Alignment Healthcare’s quarterly revenue was up 44.4% on a year-over-year basis. As a group, equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on ALHC shares. UBS Group raised their price target on shares of Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 14th. TD Cowen increased their price objective 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. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a research note on Friday, January 30th. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. Finally, KeyCorp restated an “overweight” rating and issued a $28.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 22nd. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $24.56.

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.