Picton Mahoney Asset Management Makes New Investment in Alignment Healthcare, Inc. $ALHC

Picton Mahoney Asset Management bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 393,908 shares of the company’s stock, valued at approximately $6,873,000. Picton Mahoney Asset Management owned approximately 0.20% of Alignment Healthcare at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the company. Universal Beteiligungs und Servicegesellschaft mbH raised its position in shares of Alignment Healthcare by 2.3% in the third quarter. Universal Beteiligungs und Servicegesellschaft mbH now owns 37,752 shares of the company’s stock valued at $659,000 after buying an additional 844 shares during the last quarter. Tidal Investments LLC lifted its stake in Alignment Healthcare by 4.9% in the 2nd quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock worth $253,000 after purchasing an additional 852 shares in the last quarter. PNC Financial Services Group Inc. boosted its holdings in shares of Alignment Healthcare by 205.6% during the 3rd quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock worth $60,000 after purchasing an additional 2,327 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its position in shares of Alignment Healthcare by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,594 shares in the last quarter. Finally, SBI Securities Co. Ltd. lifted its position in Alignment Healthcare by 4,868.9% during the second quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after buying an additional 2,970 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have issued reports on ALHC shares. Weiss Ratings restated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. KeyCorp restated an “overweight” rating and set a $28.00 price objective on shares of Alignment Healthcare in a research report on Thursday, January 22nd. JPMorgan Chase & Co. lifted their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, February 7th. Finally, Robert W. Baird set a $28.00 price target on shares of Alignment Healthcare in a report on Friday, January 30th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $24.56.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $18.88 on Thursday. The company’s 50 day simple moving average is $20.96 and its 200-day simple moving average is $18.63. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.61 and a current ratio of 1.71. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87. The company has a market capitalization of $3.86 billion, a price-to-earnings ratio of -1,886.11, a price-to-earnings-growth ratio of 2.70 and a beta of 1.18.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 the consensus estimate of $1 billion. During the same quarter last year, the firm earned ($0.16) EPS. The firm’s revenue for the quarter was up 44.4% on a year-over-year basis. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Robert L. Scavo sold 69,541 shares of the firm’s stock in a transaction dated Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $1,303,198.34. Following the completion of the transaction, the insider directly owned 503,014 shares in the company, valued at $9,426,482.36. This trade represents a 12.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO John E. Kao sold 605,648 shares of the stock in a transaction dated 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 directly owned 2,234,294 shares in the company, valued at $41,870,669.56. This represents a 21.33% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders have sold 2,147,056 shares of company stock valued at $42,192,787. Corporate insiders own 7.00% 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.