Jupiter Asset Management Ltd. Boosts Position in Alignment Healthcare, Inc. $ALHC

Jupiter Asset Management Ltd. raised its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 264.1% in the 4th quarter, Holdings Channel.com reports. The institutional investor owned 765,233 shares of the company’s stock after buying an additional 555,063 shares during the period. Jupiter Asset Management Ltd.’s holdings in Alignment Healthcare were worth $15,113,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in ALHC. Teacher Retirement System of Texas boosted its holdings in shares of Alignment Healthcare by 85.8% in the third quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock valued at $1,794,000 after purchasing an additional 47,472 shares during the period. Hudson Bay Capital Management LP bought a new position in shares of Alignment Healthcare during the 3rd quarter worth $4,581,000. Cinctive Capital Management LP purchased a new position in shares of Alignment Healthcare during the third quarter valued at $3,814,000. Vanguard Group Inc. raised its holdings in shares of Alignment Healthcare by 5.0% in the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock valued at $243,752,000 after acquiring an additional 664,769 shares in the last quarter. Finally, William Blair Investment Management LLC lifted its stake in Alignment Healthcare by 43.4% in the third quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company’s stock worth $36,993,000 after acquiring an additional 641,381 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on ALHC shares. Barclays reduced their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a report on Thursday, February 5th. Wolfe Research began coverage on Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 price objective for the company. Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Finally, Zacks Research raised shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Two investment analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the company. Based on data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Insider Buying and Selling at Alignment Healthcare

In other news, CFO James M. Head sold 11,100 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $21.08, for a total transaction of $233,988.00. Following the completion of the sale, the chief financial officer owned 173,495 shares of the company’s stock, valued at $3,657,274.60. The trade was a 6.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Andreas P. Wagner sold 11,602 shares of Alignment Healthcare stock in a transaction dated Thursday, March 19th. The stock was sold at an average price of $18.22, for a total value of $211,388.44. Following the completion of the sale, the insider owned 148,628 shares in the company, valued at approximately $2,708,002.16. The trade was a 7.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 1,569,859 shares of company stock worth $29,433,158. 5.20% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $15.32 on Friday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The business has a fifty day moving average of $18.67 and a 200 day moving average of $19.38. The firm has a market capitalization of $3.17 billion, a price-to-earnings ratio of 170.22, a price-to-earnings-growth ratio of 2.22 and a beta of 1.26. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period last year, the business posted ($0.05) earnings per share. The company’s revenue for the quarter was up 33.3% compared to the same quarter last year. As a group, research analysts expect that Alignment Healthcare, Inc. will post 0.19 earnings per share for the current 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.