Formula Growth Ltd. Purchases New Shares in Alignment Healthcare, Inc. $ALHC

Formula Growth Ltd. bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the second quarter, Holdings Channel reports. The institutional investor bought 221,347 shares of the company’s stock, valued at approximately $5,270,000. Alignment Healthcare accounts for approximately 1.9% of Formula Growth Ltd.’s holdings, making the stock its 5th largest position.

Several other hedge funds have also recently modified their holdings of ALHC. Summit Securities Group LLC purchased a new stake in Alignment Healthcare during the 4th quarter worth approximately $26,000. Versant Capital Management Inc lifted its position in shares of Alignment Healthcare by 463.3% in the second quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares in the last quarter. Parallel Advisors LLC lifted its position in shares of Alignment Healthcare by 87.7% in the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after acquiring an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new stake in shares of Alignment Healthcare in the third quarter worth approximately $33,000. Finally, Signature Equity Partners LLC acquired a new stake in shares of Alignment Healthcare in the first quarter worth approximately $46,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 2.4%

ALHC opened at $13.56 on Friday. Alignment Healthcare, Inc. has a one year low of $12.70 and a one year high of $25.12. The stock has a market capitalization of $2.81 billion, a PE ratio of 71.37 and a beta of 1.10. The business’s 50 day moving average price is $18.26 and its 200 day moving average price is $18.57. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The firm had revenue of $1.34 billion during the quarter, compared to the consensus estimate of $1.31 billion. During the same period last year, the company earned $0.07 EPS. The company’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post 0.17 EPS for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Weiss Ratings reissued a “hold (c-)” rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. TD Cowen reaffirmed a “buy” rating on shares of Alignment Healthcare in a report on Monday, August 3rd. JPMorgan Chase & Co. dropped their target price on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating for the company in a report on Tuesday, August 4th. Finally, Barclays reduced their target price on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Seven research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $23.60.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 298,000 shares of the stock in a transaction that occurred on Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the sale, the chief executive officer directly owned 790,766 shares in the company, valued at $10,975,832.08. This represents a 27.37% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the completion of the sale, the insider owned 331,750 shares in the company, valued at approximately $6,588,555. The trade was a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. Corporate insiders own 5.20% of the company’s stock.

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.