Concorde Asset Management LLC Takes $900,000 Position in Alignment Healthcare, Inc. $ALHC

Concorde Asset Management LLC acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 37,800 shares of the company’s stock, valued at approximately $900,000. Alignment Healthcare accounts for 0.5% of Concorde Asset Management LLC’s portfolio, making the stock its 28th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Royal Bank of Canada grew its position 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. boosted its stake in shares of Alignment Healthcare by 4.6% in the first 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 last quarter. Goldman Sachs Group Inc. boosted its stake in shares of Alignment Healthcare by 79.1% in the first 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 last quarter. Woodline Partners LP acquired a new stake in Alignment Healthcare during the first quarter worth about $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in Alignment Healthcare by 16.9% during the first 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 acquiring an additional 44,452 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Barclays decreased their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and decreased their target price for the company from $22.00 to $19.00 in a research note on Monday, August 3rd. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Finally, Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average price target of $23.60.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Mark D. Kent purchased 14,848 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The shares were purchased at an average cost of $13.31 per share, with a total value of $197,626.88. Following the purchase, the insider owned 14,848 shares of the company’s stock, valued at $197,626.88. This represents a ∞ increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Monday, June 15th. The stock was sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the sale, the president owned 947,313 shares in the company, valued at approximately $18,519,969.15. The trade was a 3.07% 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. Over the last ninety days, 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.

Alignment Healthcare Trading Down 2.4%

Shares of NASDAQ:ALHC opened at $13.56 on Friday. The business’s 50 day moving average price is $18.26 and its 200-day moving average price is $18.57. Alignment Healthcare, Inc. has a 1 year low of $12.70 and a 1 year high of $25.12. The firm has a market capitalization of $2.81 billion, a price-to-earnings ratio of 71.37 and a beta of 1.10. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70.

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