First Light Asset Management LLC Reduces Position in Alignment Healthcare, Inc. $ALHC

First Light Asset Management LLC decreased its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 47.1% in the third quarter, Holdings Channel reports. The fund owned 203,138 shares of the company’s stock after selling 180,525 shares during the period. First Light Asset Management LLC’s holdings in Alignment Healthcare were worth $3,545,000 at the end of the most recent reporting period.

A number of other institutional investors have also bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in shares of Alignment Healthcare by 167.3% during the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares during the last quarter. Invesco Ltd. grew its position in shares of Alignment Healthcare by 122.3% in the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after purchasing an additional 2,294,739 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Alignment Healthcare by 173.3% in the second quarter. Marshall Wace LLP now owns 2,039,714 shares of the company’s stock valued at $28,556,000 after purchasing an additional 1,293,416 shares during the last quarter. Voya Investment Management LLC lifted its position in Alignment Healthcare by 61.0% during the third quarter. Voya Investment Management LLC now owns 3,196,297 shares of the company’s stock worth $55,775,000 after buying an additional 1,210,930 shares in the last quarter. Finally, Integral Health Asset Management LLC lifted its position in Alignment Healthcare by 300.0% during the third quarter. Integral Health Asset Management LLC now owns 1,600,000 shares of the company’s stock worth $27,920,000 after buying an additional 1,200,000 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Down 0.8%

NASDAQ ALHC opened at $16.99 on Monday. The company has a debt-to-equity ratio of 1.80, a current ratio of 1.71 and a quick ratio of 1.71. The stock has a market capitalization of $3.47 billion, a P/E ratio of -1,697.30, a PEG ratio of 2.49 and a beta of 1.19. The firm’s 50-day moving average is $20.76 and its two-hundred day moving average is $18.77. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, February 26th. The company reported ($0.05) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.10. The business had revenue of $1.01 billion during the quarter, compared to analysts’ expectations of $1 billion. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. The business’s revenue for the quarter was up 44.4% on a year-over-year basis. During the same period last year, the business earned ($0.16) earnings per share. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In related news, President Dawn Christine Maroney sold 282,070 shares of Alignment Healthcare stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $5,285,991.80. Following the completion of the sale, the president owned 1,385,167 shares in the company, valued at approximately $25,958,029.58. This trade represents a 16.92% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert L. Scavo sold 69,541 shares of the business’s stock in a transaction that occurred on Monday, December 29th. The shares were sold at an average price of $18.74, for a total value of $1,303,198.34. Following the completion of the sale, the insider directly owned 503,014 shares in the company, valued at approximately $9,426,482.36. The trade was a 12.15% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders sold 2,066,821 shares of company stock valued at $40,250,493. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

ALHC has been the subject of several analyst reports. TD Cowen upped their target price on Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a report on Friday, January 16th. Robert W. Baird set a $28.00 price target on Alignment Healthcare in a report on Friday, January 30th. KeyCorp reissued an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a research report on Thursday, January 22nd. Weiss Ratings reissued a “sell (d-)” rating on shares of Alignment Healthcare in a report on Wednesday, January 21st. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research report on Thursday, February 5th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $24.56.

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.