Alignment Healthcare, Inc. $ALHC Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership trimmed its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 27.0% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 758,404 shares of the company’s stock after selling 280,898 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Alignment Healthcare were worth $10,618,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of the company. Ballentine Partners LLC raised its position in shares of Alignment Healthcare by 10.2% in the second quarter. Ballentine Partners LLC now owns 12,862 shares of the company’s stock valued at $180,000 after buying an additional 1,188 shares during the last quarter. Cresset Asset Management LLC grew its stake in Alignment Healthcare by 0.6% in the 1st quarter. Cresset Asset Management LLC now owns 287,565 shares of the company’s stock worth $5,354,000 after acquiring an additional 1,797 shares during the period. Signaturefd LLC raised its holdings in Alignment Healthcare by 142.6% in the 2nd quarter. Signaturefd LLC now owns 3,768 shares of the company’s stock valued at $53,000 after acquiring an additional 2,215 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in 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 valued at $1,109,000 after acquiring an additional 2,594 shares during the last quarter. Finally, SBI Securities Co. Ltd. lifted its stake in shares of Alignment Healthcare by 4,868.9% during the 2nd quarter. SBI Securities Co. Ltd. now owns 3,031 shares of the company’s stock worth $42,000 after purchasing an additional 2,970 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, October 8th. JPMorgan Chase & Co. upgraded Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their price target for the company from $18.00 to $20.00 in a report on Monday, November 24th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Monday, November 24th. Barclays increased their price objective on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Finally, Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, November 8th. One investment analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, three have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and an average price target of $20.05.

Alignment Healthcare Stock Down 0.8%

Shares of NASDAQ:ALHC opened at $19.21 on Wednesday. The stock has a 50-day simple moving average of $17.49 and a 200-day simple moving average of $15.74. The stock has a market capitalization of $3.84 billion, a P/E ratio of -160.08 and a beta of 1.16. Alignment Healthcare, Inc. has a 1 year low of $10.18 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 1.99, a quick ratio of 1.61 and a current ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Thursday, October 30th. The company reported $0.02 EPS for the quarter, beating the consensus estimate of ($0.01) by $0.03. Alignment Healthcare had a negative net margin of 0.57% and a negative return on equity of 16.23%. The firm had revenue of $993.70 million for the quarter, compared to analyst estimates of $980.90 million. During the same quarter last year, the firm posted ($0.14) earnings per share. Alignment Healthcare’s revenue for the quarter was up 43.5% compared to the same quarter last year. Equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In related news, Director Joseph S. Konowiecki sold 25,000 shares of the company’s stock in a transaction on Tuesday, October 28th. The shares were sold at an average price of $18.00, for a total transaction of $450,000.00. Following the completion of the sale, the director directly owned 1,085,973 shares of the company’s stock, valued at approximately $19,547,514. This represents a 2.25% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 180,000 shares of the stock in a transaction on Monday, November 10th. The shares were sold at an average price of $16.32, for a total value of $2,937,600.00. Following the completion of the sale, the chief executive officer owned 2,526,726 shares of the company’s stock, valued at approximately $41,236,168.32. This represents a 6.65% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 6,765,668 shares of company stock worth $108,920,018. Corporate insiders own 6.60% of the company’s stock.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.