Alignment Healthcare, Inc. $ALHC Shares Bought by Granahan Investment Management LLC

Granahan Investment Management LLC increased its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 4.1% in the first quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 780,500 shares of the company’s stock after buying an additional 31,013 shares during the quarter. Granahan Investment Management LLC’s holdings in Alignment Healthcare were worth $13,752,000 as of its most recent filing with the SEC.

Other hedge funds have also modified their holdings of the company. Summit Securities Group LLC acquired a new stake in Alignment Healthcare during the 4th quarter valued at $26,000. Parallel Advisors LLC lifted its holdings in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after buying an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new position in Alignment Healthcare in the 3rd quarter worth $33,000. First Horizon Corp purchased a new position in Alignment Healthcare in the 4th quarter valued at about $39,000. Finally, GAMMA Investing LLC boosted its position in Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after buying an additional 987 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the transaction, the president owned 947,313 shares in the company, valued at $18,519,969.15. This represents a 3.07% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO John E. Kao sold 298,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $19.86, for a total transaction of $5,918,280.00. Following the transaction, the chief executive officer directly owned 1,088,766 shares in the company, valued at approximately $21,622,892.76. The trade was a 21.49% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,039,951 shares of company stock valued at $19,976,967. Corporate insiders own 5.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Barclays cut their target price on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research report on Tuesday, May 26th. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Wolfe Research started coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They set an “outperform” rating and a $24.00 price target for the company. Finally, Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $19.43 on Friday. The company has a 50-day moving average price of $19.57 and a two-hundred day moving average price of $19.87. Alignment Healthcare, Inc. has a 52 week low of $11.66 and a 52 week high of $25.12. The stock has a market cap of $4.02 billion, a price-to-earnings ratio of 215.89, a price-to-earnings-growth ratio of 2.70 and a beta of 1.05. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. The company had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.05) earnings per share. Analysts forecast that Alignment Healthcare, Inc. will post 0.2 EPS for the current year.

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.