Allspring Global Investments Holdings LLC Raises Stock Position in Alignment Healthcare, Inc. $ALHC

Allspring Global Investments Holdings LLC grew its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 276.7% during the 1st quarter, Holdings Channel reports. The firm owned 2,458,400 shares of the company’s stock after purchasing an additional 1,805,752 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alignment Healthcare were worth $43,882,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also modified their holdings of the stock. Allworth Financial LP boosted its stake in shares of Alignment Healthcare by 8.9% in the fourth quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock worth $137,000 after acquiring an additional 566 shares during the last quarter. State of Alaska Department of Revenue raised its stake in Alignment Healthcare by 6.0% in the 4th quarter. State of Alaska Department of Revenue now owns 11,296 shares of the company’s stock valued at $223,000 after purchasing an additional 636 shares during the last quarter. Integrated Wealth Concepts LLC lifted its holdings in Alignment Healthcare by 6.3% in the 3rd quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock valued at $196,000 after purchasing an additional 665 shares in the last quarter. Parallel Advisors LLC lifted its holdings in Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares in the last quarter. Finally, Tidal Investments LLC boosted its stake in Alignment Healthcare by 4.9% during the 2nd quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock worth $253,000 after purchasing an additional 852 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 2.8%

ALHC opened at $20.60 on Friday. Alignment Healthcare, Inc. has a one year low of $11.63 and a one year high of $25.12. The stock has a market capitalization of $4.26 billion, a PE ratio of 228.89, a P/E/G ratio of 2.78 and a beta of 1.05. The business’s 50 day moving average price is $19.23 and its 200 day moving average price is $19.84. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58.

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

Insider Buying and Selling

In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the company’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total transaction of $713,986.86. Following the transaction, the insider directly owned 331,750 shares in the company, valued at $6,588,555. This represents a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total value of $600,000.00. Following the completion of the transaction, the executive vice president directly owned 1,103,816 shares of the company’s stock, valued at approximately $26,491,584. This represents a 2.21% 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. Insiders have sold 1,039,951 shares of company stock valued at $19,976,967 over the last quarter. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on ALHC. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Wall Street Zen upgraded shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. UBS Group reissued a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Finally, Barclays lowered their target price 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. Six investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $24.30.

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.