Alignment Healthcare, Inc. $ALHC Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB reduced its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 31.8% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,009,450 shares of the company’s stock after selling 469,834 shares during the quarter. Alignment Healthcare accounts for approximately 1.9% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 15th largest holding. Rhenman & Partners Asset Management AB owned 0.50% of Alignment Healthcare worth $19,937,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. MetLife Investment Management LLC grew its position in Alignment Healthcare by 9.7% during the fourth quarter. MetLife Investment Management LLC now owns 93,808 shares of the company’s stock worth $1,853,000 after buying an additional 8,283 shares during the period. Cibc World Markets Corp acquired a new position in Alignment Healthcare during the fourth quarter worth about $222,000. Integrated Quantitative Investments LLC grew its position in Alignment Healthcare by 21.1% during the fourth quarter. Integrated Quantitative Investments LLC now owns 67,439 shares of the company’s stock worth $1,332,000 after buying an additional 11,742 shares during the period. Federated Hermes Inc. grew its position in Alignment Healthcare by 28.4% during the fourth quarter. Federated Hermes Inc. now owns 571,468 shares of the company’s stock worth $11,286,000 after buying an additional 126,283 shares during the period. Finally, Marex Group plc acquired a new position in Alignment Healthcare during the fourth quarter worth about $583,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Down 2.4%

ALHC stock opened at $19.75 on Friday. The company’s 50 day simple moving average is $18.53 and its 200-day simple moving average is $19.40. The firm has a market capitalization of $4.08 billion, a PE ratio of 219.44, a P/E/G ratio of 2.73 and a beta of 1.14. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month high of $23.87. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, beating the consensus estimate of $0.01 by $0.04. The business had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The company’s quarterly revenue was up 33.3% on a year-over-year basis. During the same period in the prior year, the business earned ($0.05) earnings per share. Equities analysts expect that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Analyst Ratings Changes

ALHC has been the topic of several recent analyst reports. UBS Group upped their target price on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday. Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Weiss Ratings upgraded shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. Finally, Zacks Research upgraded shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $24.30.

Insiders Place Their Bets

In related news, insider Christopher J. Joyce sold 18,013 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The shares were sold at an average price of $17.79, for a total transaction of $320,451.27. Following the transaction, the insider owned 305,451 shares of the company’s stock, valued at approximately $5,433,973.29. This represents a 5.57% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $16.09, for a total transaction of $482,700.00. Following the transaction, the president directly owned 998,813 shares in the company, valued at $16,070,901.17. The trade was a 2.92% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 1,584,685 shares of company stock valued at $30,401,143. Corporate insiders own 5.20% of the company’s stock.

Alignment Healthcare 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.