Federated Hermes Inc. Sells 149,304 Shares of Alignment Healthcare, Inc. $ALHC

Federated Hermes Inc. decreased its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 25.1% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 445,185 shares of the company’s stock after selling 149,304 shares during the period. Federated Hermes Inc. owned 0.22% of Alignment Healthcare worth $7,768,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. Hood River Capital Management LLC lifted its holdings in shares of Alignment Healthcare by 6.0% during the second quarter. Hood River Capital Management LLC now owns 5,517,336 shares of the company’s stock valued at $77,243,000 after purchasing an additional 311,424 shares in the last quarter. 8 Knots Management LLC grew its holdings in Alignment Healthcare by 6.4% during the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock valued at $70,222,000 after purchasing an additional 300,409 shares during the period. Invesco Ltd. grew its stake in shares of Alignment Healthcare by 122.3% during the 2nd quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after acquiring an additional 2,294,739 shares during the period. Voya Investment Management LLC boosted its position in shares of Alignment Healthcare by 61.0% in the third quarter. Voya Investment Management LLC now owns 3,196,297 shares of the company’s stock worth $55,775,000 after purchasing an additional 1,210,930 shares during the period. Finally, Geode Capital Management LLC boosted its holdings in Alignment Healthcare by 14.8% in the 2nd quarter. Geode Capital Management LLC now owns 2,863,551 shares of the company’s stock worth $40,094,000 after buying an additional 369,865 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $22.53 on Monday. The firm has a fifty day simple moving average of $20.48 and a two-hundred day simple moving average of $17.50. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $4.51 billion, a P/E ratio of -187.75, a PEG ratio of 5.93 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.02 EPS for the quarter, beating analysts’ consensus estimates of ($0.01) by $0.03. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. The firm had revenue of $993.70 million during the quarter, compared to the consensus estimate of $980.90 million. During the same quarter last year, the firm earned ($0.14) EPS. The firm’s revenue for the quarter was up 43.5% compared to the same quarter last year. On average, analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 69,541 shares of Alignment Healthcare stock in a transaction on Monday, December 29th. The shares were 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 of the company’s stock, valued at $9,426,482.36. The trade was a 12.15% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Dawn Christine Maroney sold 282,070 shares of the stock in a transaction on Monday, December 29th. The shares were sold at an average price of $18.74, for a total transaction of $5,285,991.80. Following the completion of the sale, the president directly owned 1,385,167 shares in the company, valued at approximately $25,958,029.58. This represents a 16.92% decrease in their position. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 2,103,532 shares of company stock worth $40,529,538. 6.60% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. Barclays lifted their target price on Alignment Healthcare from $13.00 to $18.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a report on Friday. KeyCorp reaffirmed an “overweight” rating and set a $28.00 target price on shares of Alignment Healthcare in a research note on Thursday, January 22nd. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $20.00 to $23.00 and gave the company an “overweight” rating in a report on Wednesday, December 17th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $23.05.

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.