Assenagon Asset Management S.A. Has $2.69 Million Stock Position in Alignment Healthcare, Inc. $ALHC

Assenagon Asset Management S.A. lowered its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 91.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 152,846 shares of the company’s stock after selling 1,622,129 shares during the quarter. Assenagon Asset Management S.A. owned about 0.07% of Alignment Healthcare worth $2,693,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Wellington Management Group LLP grew its position in Alignment Healthcare by 167.3% in 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. raised its position in shares of Alignment Healthcare by 122.3% during the second quarter. Invesco Ltd. now owns 4,170,529 shares of the company’s stock valued at $58,387,000 after buying an additional 2,294,739 shares during the last quarter. Capital World Investors bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $44,203,000. Loomis Sayles & Co. L P bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $44,162,000. Finally, Danica Pension Livsforsikringsaktieselskab acquired a new stake in Alignment Healthcare during the fourth quarter worth about $39,500,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several research reports. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. UBS Group raised their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Raymond James Financial set a $22.00 price objective on Alignment Healthcare in a report on Thursday, May 7th. Barclays decreased their price objective on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Finally, KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. One analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have given a Hold rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $23.81 on Wednesday. Alignment Healthcare, Inc. has a 12-month low of $11.63 and a 12-month high of $23.97. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm has a market capitalization of $4.92 billion, a PE ratio of 264.56, a price-to-earnings-growth ratio of 3.14 and a beta of 1.14. The firm has a 50-day moving average price of $18.87 and a 200 day moving average price of $19.64.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company had revenue of $1.24 billion for the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the previous year, the business earned ($0.05) earnings per share. The company’s quarterly revenue was up 33.3% on a year-over-year basis. Research analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, EVP Joseph S. Konowiecki sold 25,000 shares of the business’s stock in a transaction on Friday, June 26th. The stock was sold at an average price of $23.00, for a total value of $575,000.00. Following the sale, the executive vice president owned 1,128,816 shares of the company’s stock, valued at $25,962,768. The trade was a 2.17% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the completion of the sale, the insider owned 331,750 shares in the company, valued at $6,588,555. This trade represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,306,051 shares of company stock worth $25,733,006 over the last 90 days. Corporate insiders own 5.20% of the company’s stock.

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.