Alignment Healthcare, Inc. (NASDAQ:ALHC) Position Increased by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. increased its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 478.0% in the first quarter, HoldingsChannel reports. The firm owned 831,397 shares of the company’s stock after acquiring an additional 687,566 shares during the period. Assenagon Asset Management S.A.’s holdings in Alignment Healthcare were worth $15,481,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in ALHC. Rhumbline Advisers raised its holdings in shares of Alignment Healthcare by 4.4% during the 1st quarter. Rhumbline Advisers now owns 141,638 shares of the company’s stock valued at $2,637,000 after purchasing an additional 5,934 shares in the last quarter. GAMMA Investing LLC boosted its position in shares of Alignment Healthcare by 3,216.9% during the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company’s stock valued at $443,000 after acquiring an additional 23,097 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. Mackenzie Financial Corp boosted its position in Alignment Healthcare by 149.8% in the fourth quarter. Mackenzie Financial Corp now owns 85,175 shares of the company’s stock valued at $958,000 after buying an additional 51,084 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in Alignment Healthcare by 15.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company’s stock valued at $2,961,000 after buying an additional 36,151 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Andreas P. Wagner sold 7,632 shares of the business’s stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $125,164.80. Following the transaction, the insider now directly owns 223,474 shares of the company’s stock, valued at approximately $3,664,973.60. The trade was a 3.30% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 230,000 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the transaction, the president now directly owns 2,132,899 shares in the company, valued at $40,738,370.90. This trade represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,857,663 shares of company stock worth $274,376,217. 7.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALHC has been the subject of a number of recent research reports. Stephens raised shares of Alignment Healthcare to a “strong-buy” rating in a research note on Monday, June 2nd. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Robert W. Baird increased their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a research report on Tuesday, April 15th. Piper Sandler raised their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Finally, Bank of America raised their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Alignment Healthcare Stock Down 0.9%

NASDAQ:ALHC opened at $14.94 on Friday. The company has a market cap of $2.96 billion, a PE ratio of -19.40 and a beta of 1.22. Alignment Healthcare, Inc. has a one year low of $7.05 and a one year high of $21.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm’s 50 day simple moving average is $16.37 and its 200 day simple moving average is $14.90.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The company had revenue of $926.93 million during the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.25) EPS. On average, research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Alignment Healthcare Company 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.