William Blair Investment Management LLC Has $24.28 Million Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

William Blair Investment Management LLC increased its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 94.4% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 3,104,681 shares of the company’s stock after buying an additional 1,507,759 shares during the period. William Blair Investment Management LLC owned 1.62% of Alignment Healthcare worth $24,279,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Virtu Financial LLC acquired a new position in shares of Alignment Healthcare during the first quarter worth $57,000. Principal Financial Group Inc. bought a new stake in shares of Alignment Healthcare in the first quarter worth $57,000. Victory Capital Management Inc. grew its stake in shares of Alignment Healthcare by 17.9% in the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock worth $111,000 after purchasing an additional 1,962 shares during the last quarter. Aigen Investment Management LP boosted its position in Alignment Healthcare by 18.5% during the fourth quarter. Aigen Investment Management LP now owns 19,764 shares of the company’s stock valued at $170,000 after acquiring an additional 3,092 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its position in Alignment Healthcare by 9.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock valued at $196,000 after acquiring an additional 3,334 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have commented on ALHC shares. Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Friday, July 26th. TD Cowen upped their price target on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Barclays increased their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Bank of America raised shares of Alignment Healthcare from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $7.75 to $11.00 in a research report on Thursday, May 30th. Finally, Robert W. Baird upped their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Insider Activity

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the sale, the insider now directly owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Alignment Healthcare news, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction that occurred on Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the transaction, the insider now directly owns 1,789,023 shares in the company, valued at $16,136,987.46. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The stock was sold at an average price of $9.05, for a total transaction of $136,057.70. Following the completion of the transaction, the insider now owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The disclosure for this sale can be found here. Insiders sold 268,639 shares of company stock valued at $2,676,719 over the last three months. Insiders own 6.60% of the company’s stock.

Alignment Healthcare Trading Up 2.7 %

Shares of ALHC opened at $11.89 on Monday. The firm’s 50-day moving average price is $9.15 and its 200-day moving average price is $7.29. The firm has a market capitalization of $2.27 billion, a price-to-earnings ratio of -14.15 and a beta of 1.43. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $12.36.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. During the same quarter in the previous year, the firm posted ($0.15) earnings per share. Alignment Healthcare’s quarterly revenue was up 47.3% on a year-over-year basis. Sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.