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

Persistent Asset Partners Ltd lessened its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 44.3% in the third quarter, HoldingsChannel reports. The fund owned 126,929 shares of the company’s stock after selling 100,960 shares during the period. Alignment Healthcare makes up about 1.5% of Persistent Asset Partners Ltd’s portfolio, making the stock its 17th largest holding. Persistent Asset Partners Ltd’s holdings in Alignment Healthcare were worth $2,215,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the company. SBI Securities Co. Ltd. raised its holdings in Alignment Healthcare by 4,868.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after buying an additional 2,970 shares during the period. KBC Group NV acquired a new position in Alignment Healthcare during the 2nd quarter worth approximately $44,000. Wilmington Savings Fund Society FSB bought a new position in Alignment Healthcare in the third quarter valued at about $53,000. PNC Financial Services Group Inc. raised its stake in shares of Alignment Healthcare by 205.6% during the third quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $60,000 after acquiring an additional 2,327 shares during the last quarter. Finally, Ameritas Investment Partners Inc. lifted its stake in shares of Alignment Healthcare by 32.9% in the second quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after acquiring an additional 3,225 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Up 1.6%

Shares of NASDAQ ALHC opened at $20.84 on Friday. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.99. The stock has a market capitalization of $4.17 billion, a PE ratio of -173.67, a price-to-earnings-growth ratio of 5.23 and a beta of 1.16. The stock’s fifty day simple moving average is $21.01 and its two-hundred day simple moving average is $18.26. Alignment Healthcare, Inc. has a 12-month low of $11.63 and a 12-month high of $23.87.

Insider Activity

In other news, CEO John E. Kao sold 605,648 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The stock was sold at an average price of $18.74, for a total transaction of $11,349,843.52. Following the transaction, the chief executive officer directly owned 2,234,294 shares in the company, valued at $41,870,669.56. The trade was a 21.33% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 282,070 shares of Alignment Healthcare stock in a transaction that occurred 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 sale, the president directly owned 1,385,167 shares in the company, valued at approximately $25,958,029.58. The trade was a 16.92% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 2,150,938 shares of company stock worth $42,274,570 in the last quarter. Corporate insiders own 7.00% of the company’s stock.

Analyst Ratings Changes

ALHC has been the subject of a number of research analyst reports. UBS Group boosted their target price on Alignment Healthcare from $18.00 to $21.00 and gave the company a “neutral” rating in a research report on Wednesday, January 14th. TD Cowen increased their price target on shares of Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research report on Friday, January 16th. The Goldman Sachs Group reiterated a “buy” rating and issued a $22.00 price objective on shares of Alignment Healthcare in a report on Monday, November 3rd. Barclays boosted their price objective on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Finally, Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, February 7th. One investment analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $23.32.

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.