Concorde Asset Management LLC Takes Position in Alignment Healthcare, Inc. $ALHC

Concorde Asset Management LLC purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the 2nd quarter, HoldingsChannel reports. The fund purchased 37,800 shares of the company’s stock, valued at approximately $900,000. Alignment Healthcare makes up approximately 0.5% of Concorde Asset Management LLC’s investment portfolio, making the stock its 28th largest position.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Formula Growth Ltd. purchased a new stake in Alignment Healthcare during the 2nd quarter valued at about $5,270,000. Jefferies Financial Group Inc. acquired a new stake in Alignment Healthcare in the 2nd quarter valued at about $2,795,000. Transamerica Financial Advisors LLC purchased a new position in Alignment Healthcare in the 2nd quarter worth approximately $149,000. Corient Private Wealth LP purchased a new position in Alignment Healthcare in the 2nd quarter worth approximately $3,247,000. Finally, Odyssean LLC boosted its holdings in shares of Alignment Healthcare by 48.9% during the 2nd quarter. Odyssean LLC now owns 50,507 shares of the company’s stock worth $1,203,000 after purchasing an additional 16,596 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALHC. Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. TD Cowen reaffirmed a “buy” rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. Weiss Ratings reiterated a “hold (c-)” rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. Finally, Barclays lowered their price target on shares of 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. Seven investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $23.60.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the company’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider owned 331,750 shares of the company’s stock, valued at $6,588,555. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent bought 14,848 shares of the stock in a transaction on Tuesday, June 2nd. The shares were bought at an average cost of $13.31 per share, with a total value of $197,626.88. Following the purchase, the insider owned 14,848 shares of the company’s stock, valued at $197,626.88. This trade represents a ∞ increase in their ownership of the stock. The SEC filing for this purchase provides additional information. In the last quarter, insiders sold 1,009,951 shares of company stock worth $18,597,287. Insiders own 5.20% of the company’s stock.

Alignment Healthcare Stock Down 2.4%

ALHC stock opened at $13.56 on Friday. Alignment Healthcare, Inc. has a one year low of $12.70 and a one year high of $25.12. The firm has a market cap of $2.81 billion, a PE ratio of 71.37 and a beta of 1.10. The firm’s 50 day moving average price is $18.26 and its 200-day moving average price is $18.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share for the quarter, topping the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. During the same period in the prior year, the business posted $0.07 earnings per share. The firm’s revenue for the quarter was up 31.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.

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.