Intech Investment Management LLC Sells 45,860 Shares of Alignment Healthcare, Inc. $ALHC

Intech Investment Management LLC cut its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 41.7% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 64,236 shares of the company’s stock after selling 45,860 shares during the period. Intech Investment Management LLC’s holdings in Alignment Healthcare were worth $1,121,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Counterpoint Mutual Funds LLC acquired a new position in shares of Alignment Healthcare in the 3rd quarter worth approximately $500,000. Hillsdale Investment Management Inc. increased its position in shares of Alignment Healthcare by 6.4% during the third quarter. Hillsdale Investment Management Inc. now owns 158,270 shares of the company’s stock worth $2,762,000 after buying an additional 9,570 shares during the period. Jupiter Asset Management Ltd. raised its stake in Alignment Healthcare by 20.7% during the third quarter. Jupiter Asset Management Ltd. now owns 210,170 shares of the company’s stock worth $3,667,000 after buying an additional 36,086 shares during the last quarter. GSA Capital Partners LLP raised its stake in Alignment Healthcare by 21.3% during the third quarter. GSA Capital Partners LLP now owns 32,825 shares of the company’s stock worth $573,000 after buying an additional 5,773 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in Alignment Healthcare by 5.0% in the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock valued at $243,752,000 after buying an additional 664,769 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on ALHC. Piper Sandler upped their price target on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research report on Tuesday, January 6th. TD Cowen boosted their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 16th. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research report on Saturday. JPMorgan Chase & Co. raised their target price on Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, KeyCorp reiterated an “overweight” rating and issued a $28.00 target price on shares of Alignment Healthcare in a report on Thursday, January 22nd. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $24.56.

Alignment Healthcare Trading Down 0.7%

NASDAQ:ALHC opened at $18.44 on Friday. The company has a current ratio of 1.71, a quick ratio of 1.61 and a debt-to-equity ratio of 1.80. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of -1,842.16, a PEG ratio of 2.70 and a beta of 1.18. The firm has a fifty day simple moving average of $20.95 and a two-hundred day simple moving average of $18.68. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month 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 for the quarter, beating the consensus estimate of ($0.15) by $0.10. The firm had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. The business’s quarterly revenue was up 44.4% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.16) earnings per share. Analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, insider Robert L. Scavo sold 69,541 shares of the stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $1,303,198.34. Following the transaction, the insider owned 503,014 shares in the company, valued at approximately $9,426,482.36. This represents a 12.15% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 605,648 shares of the firm’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 $11,349,843.52. Following the completion of the sale, the chief executive officer directly owned 2,234,294 shares of the company’s stock, valued at $41,870,669.56. This trade represents a 21.33% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 2,147,056 shares of company stock valued at $42,192,787. 7.00% of the stock is owned by company insiders.

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.