Hsbc Holdings PLC Makes New $1.76 Million Investment in Alignment Healthcare, Inc. $ALHC

Hsbc Holdings PLC bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 73,936 shares of the company’s stock, valued at approximately $1,765,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Royal Bank of Canada increased its holdings in Alignment Healthcare by 92.6% during the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock worth $1,720,000 after purchasing an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in shares of Alignment Healthcare by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock worth $1,109,000 after buying an additional 2,594 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of Alignment Healthcare by 79.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock worth $18,112,000 after buying an additional 429,703 shares during the period. Woodline Partners LP bought a new position in shares of Alignment Healthcare during the 1st quarter worth $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Alignment Healthcare by 16.9% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock worth $5,729,000 after buying an additional 44,452 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on ALHC shares. TD Cowen restated a “buy” rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. JPMorgan Chase & Co. cut their target price on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating on the stock in a research report on Tuesday, August 4th. Raymond James Financial lowered shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and reduced their price target for the company from $22.00 to $19.00 in a report on Monday, August 3rd. Finally, Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average price target of $23.60.

Insiders Place Their Bets

In other Alignment Healthcare news, EVP Joseph S. Konowiecki sold 25,000 shares of the firm’s stock in a transaction dated Wednesday, July 1st. The stock was sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the sale, the executive vice president owned 1,103,816 shares of the company’s stock, valued at approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent purchased 14,848 shares of the company’s stock in a transaction dated Tuesday, June 2nd. The shares were acquired at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the purchase, the insider directly owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. The trade was a ∞ increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. In the last 90 days, insiders have sold 1,009,951 shares of company stock valued at $18,597,287. 5.20% of the stock is currently owned by corporate insiders.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $13.62 on Monday. Alignment Healthcare, Inc. has a 52 week low of $12.70 and a 52 week high of $25.12. The company has a 50 day moving average price of $18.09 and a 200 day moving average price of $18.52. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The firm has a market cap of $2.83 billion, a PE ratio of 71.69 and a beta of 1.10.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share 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 analysts’ expectations of $1.31 billion. During the same quarter last year, the firm earned $0.07 EPS. The business’s quarterly revenue was up 31.6% on a year-over-year basis. As a group, sell-side analysts forecast that Alignment Healthcare, Inc. will post 0.17 EPS for the current fiscal year.

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.