Alignment Healthcare, Inc. $ALHC Position Lifted by Integral Health Asset Management LLC

Integral Health Asset Management LLC boosted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 300.0% in the third quarter, HoldingsChannel reports. The institutional investor owned 1,600,000 shares of the company’s stock after purchasing an additional 1,200,000 shares during the period. Alignment Healthcare comprises approximately 1.9% of Integral Health Asset Management LLC’s holdings, making the stock its 10th largest position. Integral Health Asset Management LLC’s holdings in Alignment Healthcare were worth $27,920,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in ALHC. Vanguard Group Inc. increased its position in shares of Alignment Healthcare by 5.0% during the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock worth $243,752,000 after acquiring an additional 664,769 shares during the period. Wellington Management Group LLP raised its stake in shares of Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock valued at $193,516,000 after acquiring an additional 6,940,277 shares in the last quarter. Hood River Capital Management LLC boosted its holdings in shares of Alignment Healthcare by 6.0% in 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 during the period. 8 Knots Management LLC boosted its holdings in shares of Alignment Healthcare by 6.4% in 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. Finally, Invesco Ltd. grew its stake in Alignment Healthcare by 7.1% in the third quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock worth $77,943,000 after purchasing an additional 296,101 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $16.99 on Friday. The company has a market cap of $3.47 billion, a PE ratio of -1,697.30, a P/E/G ratio of 2.50 and a beta of 1.18. The firm’s 50 day moving average price is $20.76 and its 200-day moving average price is $18.73. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.71. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.10. The company had revenue of $1.01 billion during the quarter, compared to the consensus estimate of $1 billion. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. Alignment Healthcare’s revenue for the quarter was up 44.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.16) earnings per share. Sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Piper Sandler raised their price objective on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a report on Tuesday, January 6th. TD Cowen upped their target price on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a report on Friday, January 16th. UBS Group increased their price target on Alignment Healthcare from $18.00 to $21.00 and gave the stock a “neutral” rating in a research report on Wednesday, January 14th. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, March 7th. Finally, JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, three have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.56.

Insider Activity

In other news, CEO John E. Kao sold 605,648 shares of the business’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $11,349,843.52. Following the completion of the transaction, the chief executive officer directly owned 2,234,294 shares of the company’s stock, valued at approximately $41,870,669.56. The trade was a 21.33% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Robert L. Scavo sold 69,541 shares of the company’s stock in a transaction on Monday, December 29th. The stock was sold at an average price of $18.74, for a total value of $1,303,198.34. Following the sale, the insider owned 503,014 shares of the company’s stock, valued at $9,426,482.36. This trade represents a 12.15% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 2,180,140 shares of company stock worth $42,518,007. 7.00% of the stock is currently owned by company insiders.

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.