Hennessy Advisors Inc. Purchases Shares of 560,900 Alignment Healthcare, Inc. $ALHC

Hennessy Advisors Inc. purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 2nd quarter, Holdings Channel.com reports. The institutional investor purchased 560,900 shares of the company’s stock, valued at approximately $7,853,000.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in Alignment Healthcare by 109.1% in the 1st quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company’s stock valued at $883,000 after buying an additional 24,755 shares during the period. New York State Common Retirement Fund raised its holdings in shares of Alignment Healthcare by 100.9% in the 1st quarter. New York State Common Retirement Fund now owns 165,642 shares of the company’s stock valued at $3,084,000 after purchasing an additional 83,187 shares in the last quarter. Victory Capital Management Inc. raised its holdings in shares of Alignment Healthcare by 905.7% in the 1st quarter. Victory Capital Management Inc. now owns 114,397 shares of the company’s stock valued at $2,130,000 after purchasing an additional 103,022 shares in the last quarter. GAMMA Investing LLC raised its holdings in shares of Alignment Healthcare by 3,216.9% in the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company’s stock valued at $443,000 after purchasing an additional 23,097 shares in the last quarter. Finally, Raymond James Financial Inc. raised its holdings in shares of Alignment Healthcare by 31.1% in the 1st quarter. Raymond James Financial Inc. now owns 206,174 shares of the company’s stock valued at $3,839,000 after purchasing an additional 48,901 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Barclays upgraded shares of Alignment Healthcare from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $9.00 to $13.00 in a report on Thursday, July 31st. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Saturday, September 27th. Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Sunday, August 10th. Zacks Research upgraded shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Monday, September 29th. Finally, KeyCorp upgraded shares of Alignment Healthcare from a “sector weight” rating to an “overweight” rating and set a $21.00 price objective on the stock in a research note on Monday, August 25th. Two research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $18.83.

Alignment Healthcare Trading Up 3.6%

NASDAQ ALHC opened at $16.62 on Friday. The company has a debt-to-equity ratio of 2.29, a quick ratio of 1.66 and a current ratio of 1.66. The firm has a market cap of $3.29 billion, a PE ratio of -59.36 and a beta of 1.18. Alignment Healthcare, Inc. has a one year low of $10.11 and a one year high of $21.06. The firm’s fifty day moving average is $15.59 and its two-hundred day moving average is $15.67.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating the consensus estimate of ($0.07) by $0.14. The business had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $960.25 million. Alignment Healthcare had a negative net margin of 1.53% and a negative return on equity of 43.68%. The business’s quarterly revenue was up 49.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.13) earnings per share. Alignment Healthcare has set its FY 2025 guidance at EPS. Q3 2025 guidance at EPS. Analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Robert L. Scavo sold 29,535 shares of Alignment Healthcare stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $16.41, for a total value of $484,669.35. Following the sale, the insider owned 572,555 shares of the company’s stock, valued at $9,395,627.55. The trade was a 4.91% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 355,018 shares of Alignment Healthcare stock in a transaction dated Wednesday, September 10th. The shares were sold at an average price of $16.41, for a total transaction of $5,825,845.38. Following the completion of the sale, the chief executive officer directly owned 4,533,568 shares in the company, valued at approximately $74,395,850.88. The trade was a 7.26% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 7,388,173 shares of company stock valued at $118,068,256. Corporate insiders own 7.00% of the company’s stock.

Alignment Healthcare Profile

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.