Renaissance Technologies LLC Grows Stake in Alignment Healthcare, Inc. $ALHC

Renaissance Technologies LLC increased its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 8.8% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund owned 2,903,100 shares of the company’s stock after purchasing an additional 235,900 shares during the quarter. Renaissance Technologies LLC’s holdings in Alignment Healthcare were worth $51,153,000 as of its most recent filing with the SEC.

Other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after purchasing an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Alignment Healthcare by 26.9% during the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock worth $277,900,000 after buying an additional 2,981,166 shares during the last quarter. T. Rowe Price Investment Management Inc. raised its stake in shares of Alignment Healthcare by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after buying an additional 79,268 shares during the last quarter. Invesco Ltd. raised its stake in shares of Alignment Healthcare by 38.9% during the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after buying an additional 1,735,962 shares during the last quarter. Finally, 8 Knots Management LLC boosted its position in shares of Alignment Healthcare by 6.4% in the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after buying an additional 300,409 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. KeyCorp reissued an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Raymond James Financial set a $22.00 target price on shares of Alignment Healthcare in a research report on Thursday, May 7th. Barclays reduced their price target on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a report on Tuesday, May 26th. Wolfe Research initiated coverage on shares of Alignment Healthcare in a research report on Friday, April 17th. They issued an “outperform” rating and a $24.00 price target on the stock. Finally, Weiss Ratings raised shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. Six research analysts have rated the stock with a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare Stock Down 3.9%

Shares of NASDAQ:ALHC opened at $18.67 on Tuesday. 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 company has a market capitalization of $3.86 billion, a P/E ratio of 207.44, a P/E/G ratio of 2.62 and a beta of 1.05. Alignment Healthcare, Inc. has a 52-week low of $11.66 and a 52-week high of $25.12. The stock’s fifty day simple moving average is $19.62 and its 200-day simple moving average is $19.85.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 EPS for the quarter, topping 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 firm had revenue of $1.24 billion during the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter last year, the business posted ($0.05) EPS. The firm’s quarterly revenue was up 33.3% compared to the same quarter last year. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 298,000 shares of the firm’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $19.86, for a total transaction of $5,918,280.00. Following the sale, the chief executive officer directly owned 1,088,766 shares of the company’s stock, valued at $21,622,892.76. This trade represents a 21.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent purchased 14,848 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were purchased at an average price of $13.31 per share, with a total value of $197,626.88. Following the completion of the acquisition, the insider owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. This represents a ? increase in their ownership of the stock. Additional details regarding this purchase are available in the official SEC disclosure. Insiders sold 1,039,951 shares of company stock worth $19,976,967 over the last three months. Company 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.