Alignment Healthcare, Inc. $ALHC Shares Sold by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd cut its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 34.2% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,543 shares of the company’s stock after selling 43,386 shares during the quarter. Persistent Asset Partners Ltd’s holdings in Alignment Healthcare were worth $1,650,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of ALHC. Wellington Management Group LLP increased its stake in shares of Alignment Healthcare by 167.3% in the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after acquiring an additional 6,940,277 shares during the last quarter. Invesco Ltd. increased its stake in shares of Alignment Healthcare by 122.3% in the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock worth $58,387,000 after acquiring an additional 2,294,739 shares during the last quarter. Capital World Investors acquired a new stake in shares of Alignment Healthcare in the 4th quarter worth $44,203,000. Loomis Sayles & Co. L P acquired a new stake in shares of Alignment Healthcare in the 4th quarter worth $44,162,000. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in shares of Alignment Healthcare in the 4th quarter worth $39,500,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $20.60 on Wednesday. The stock has a fifty day simple moving average of $18.59 and a 200-day simple moving average of $19.43. Alignment Healthcare, Inc. has a twelve month low of $11.63 and a twelve month high of $23.87. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. The stock has a market cap of $4.26 billion, a PE ratio of 228.89, a P/E/G ratio of 2.67 and a beta of 1.14.

Alignment Healthcare (NASDAQ:ALHC) last posted its 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. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same quarter in the prior year, the company earned ($0.05) EPS. Alignment Healthcare’s revenue was up 33.3% on a year-over-year basis. Equities analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of recent research reports. UBS Group raised their target price on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a report on Tuesday, April 28th. Finally, Barclays lowered their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have assigned a Hold rating to the stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Buying and Selling

In related news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $482,700.00. Following the transaction, the president owned 998,813 shares of the company’s stock, valued at approximately $16,070,901.17. This represents a 2.92% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through 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 stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $16.89, for a total value of $5,033,220.00. Following the transaction, the chief executive officer directly owned 1,508,641 shares in the company, valued at approximately $25,480,946.49. The trade was a 16.49% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 1,428,666 shares of company stock valued at $27,752,485. Corporate insiders own 5.20% of the company’s stock.

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.