Bank of New York Mellon Corp Has $58.38 Million Stock Holdings in Alignment Healthcare, Inc. $ALHC

Bank of New York Mellon Corp raised its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 232.5% during the first quarter, Holdings Channel reports. The institutional investor owned 3,313,110 shares of the company’s stock after buying an additional 2,316,777 shares during the quarter. Bank of New York Mellon Corp’s holdings in Alignment Healthcare were worth $58,377,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. 1492 Capital Management LLC increased its position in shares of Alignment Healthcare by 61.8% during the 4th quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock worth $6,416,000 after purchasing an additional 124,143 shares during the last quarter. SG Americas Securities LLC increased its position in shares of Alignment Healthcare by 148.5% during the fourth quarter. SG Americas Securities LLC now owns 60,390 shares of the company’s stock valued at $1,193,000 after acquiring an additional 36,084 shares during the last quarter. Assenagon Asset Management S.A. raised its stake in shares of Alignment Healthcare by 6,708.0% in the 4th quarter. Assenagon Asset Management S.A. now owns 1,774,975 shares of the company’s stock valued at $35,056,000 after acquiring an additional 1,748,903 shares during the period. Danica Pension Livsforsikringsaktieselskab purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $39,500,000. Finally, William Blair Investment Management LLC lifted its holdings in shares of Alignment Healthcare by 8.7% in the 4th quarter. William Blair Investment Management LLC now owns 2,305,255 shares of the company’s stock worth $45,529,000 after acquiring an additional 185,303 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ALHC shares. Weiss Ratings raised Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Finally, Barclays lowered their target price 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. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average price target of $24.30.

Alignment Healthcare Stock Down 3.7%

Shares of NASDAQ ALHC opened at $20.00 on Friday. The stock has a market cap of $4.13 billion, a P/E ratio of 222.22, a PEG ratio of 2.80 and a beta of 1.05. The business’s fifty day simple moving average is $19.49 and its 200-day simple moving average is $19.88. Alignment Healthcare, Inc. has a 12-month low of $11.63 and a 12-month high of $25.12. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same period in the previous year, the firm posted ($0.05) EPS. Alignment Healthcare’s revenue for the quarter was up 33.3% on a year-over-year basis. As a group, equities analysts predict that Alignment Healthcare, Inc. will post 0.2 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Mark D. Kent purchased 14,848 shares of the stock in a transaction on Tuesday, June 2nd. The stock was bought at an average price of $13.31 per share, for a total transaction of $197,626.88. Following the acquisition, the insider directly owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. The trade was a ∞ increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the stock in a transaction that occurred on Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the completion of the sale, the executive vice president directly owned 1,103,816 shares in the company, valued at approximately $26,491,584. This represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 1,039,951 shares of company stock worth $19,976,967. Corporate insiders own 5.20% of the company’s stock.

About Alignment Healthcare

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.