Rhumbline Advisers Grows Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Rhumbline Advisers lifted its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 13.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 137,296 shares of the company’s stock after acquiring an additional 16,083 shares during the period. Rhumbline Advisers’ holdings in Alignment Healthcare were worth $1,074,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Victory Capital Management Inc. boosted its stake in Alignment Healthcare by 17.9% in the 4th 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 period. Charles Schwab Investment Management Inc. boosted its position in shares of Alignment Healthcare by 1.4% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 751,309 shares of the company’s stock valued at $6,469,000 after acquiring an additional 10,123 shares during the period. Aigen Investment Management LP grew its stake 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 in the last quarter. Allspring Global Investments Holdings LLC grew its stake 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 in the last quarter. Finally, Principal Financial Group Inc. purchased a new stake in Alignment Healthcare in the 1st quarter worth approximately $57,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 15,034 shares of the stock in a transaction dated 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 sale, the insider now directly owns 406,912 shares in the company, valued at approximately $3,682,553.60. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Alignment Healthcare news, Chairman Joseph S. Konowiecki sold 22,400 shares of the firm’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.06, for a total value of $202,944.00. Following the sale, the chairman now owns 1,233,221 shares of the company’s stock, valued at approximately $11,172,982.26. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Christopher J. Joyce sold 15,034 shares of the business’s stock in a transaction dated 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 transaction, the insider now owns 406,912 shares in the company, valued at approximately $3,682,553.60. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 268,639 shares of company stock worth $2,676,719. Company insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the stock. Baird R W upgraded shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Robert W. Baird boosted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Barclays raised their price target on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC opened at $11.43 on Monday. The stock has a market cap of $2.19 billion, a price-to-earnings ratio of -13.61 and a beta of 1.43. The stock’s 50-day moving average is $9.47 and its 200 day moving average is $7.48. 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 announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The firm had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business’s quarterly revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.15) EPS. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Alignment Healthcare Company Profile

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.