Y Intercept Hong Kong Ltd Makes New Investment in Alignment Healthcare, Inc. $ALHC

Y Intercept Hong Kong Ltd bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 200,489 shares of the company’s stock, valued at approximately $3,499,000.

Other large investors have also added to or reduced their stakes in the company. Invesco Ltd. boosted its holdings in Alignment Healthcare by 122.3% in the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after purchasing an additional 2,294,739 shares during the period. Marshall Wace LLP grew its position in shares of Alignment Healthcare by 173.3% during the 2nd quarter. Marshall Wace LLP now owns 2,039,714 shares of the company’s stock valued at $28,556,000 after buying an additional 1,293,416 shares during the last quarter. Voya Investment Management LLC raised its stake in Alignment Healthcare by 61.0% during the third quarter. Voya Investment Management LLC now owns 3,196,297 shares of the company’s stock worth $55,775,000 after acquiring an additional 1,210,930 shares during the period. Qube Research & Technologies Ltd lifted its holdings in Alignment Healthcare by 269.6% in the second quarter. Qube Research & Technologies Ltd now owns 1,523,986 shares of the company’s stock worth $21,336,000 after acquiring an additional 1,111,685 shares during the last quarter. Finally, Balyasny Asset Management L.P. acquired a new position in Alignment Healthcare in the second quarter valued at approximately $10,483,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on ALHC shares. The Goldman Sachs Group reissued a “buy” rating and issued a $22.00 price target on shares of Alignment Healthcare in a report on Monday, November 3rd. Zacks Research cut Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, October 28th. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. KeyCorp reiterated an “overweight” rating and issued a $28.00 price objective on shares of Alignment Healthcare in a research report on Thursday. Finally, Barclays boosted their target price on shares of Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $22.50.

Alignment Healthcare Trading Down 13.7%

Shares of NASDAQ:ALHC opened at $20.56 on Tuesday. The company has a 50 day moving average of $20.03 and a 200-day moving average of $17.26. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. The firm has a market cap of $4.11 billion, a P/E ratio of -171.30, a P/E/G ratio of 6.27 and a beta of 1.16. Alignment Healthcare, Inc. has a twelve month low of $11.63 and a twelve month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, October 30th. The company reported $0.02 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.01) by $0.03. The firm had revenue of $993.70 million during the quarter, compared to the consensus estimate of $980.90 million. Alignment Healthcare had a negative return on equity of 16.23% and a negative net margin of 0.57%.The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.14) earnings per share. As a group, analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity

In related news, President Dawn Christine Maroney sold 282,070 shares of the 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 $5,285,991.80. Following the completion of the sale, the president directly owned 1,385,167 shares of the company’s stock, valued at $25,958,029.58. This represents a 16.92% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Kao sold 605,648 shares of the firm’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $11,349,843.52. Following the sale, the chief executive officer owned 2,234,294 shares of the company’s stock, valued at $41,870,669.56. The trade was a 21.33% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,103,532 shares of company stock worth $40,529,538. Corporate insiders own 6.60% of the company’s stock.

About Alignment Healthcare

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.