Osterweis Capital Management Inc. purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC – Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 604,000 shares of the company’s stock, valued at approximately $14,381,000.
A number of other large investors have also made changes to their positions in ALHC. Summit Securities Group LLC acquired a new position in Alignment Healthcare during the fourth quarter worth about $26,000. Versant Capital Management Inc boosted its stake in shares of Alignment Healthcare by 463.3% during the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after acquiring an additional 1,135 shares in the last quarter. Parallel Advisors LLC grew its holdings in shares of Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares during the period. Larson Financial Group LLC purchased a new position in Alignment Healthcare in the 3rd quarter valued at approximately $33,000. Finally, Signature Equity Partners LLC purchased a new position in Alignment Healthcare in the 1st quarter valued at approximately $46,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.
Alignment Healthcare Price Performance
Shares of NASDAQ:ALHC opened at $13.43 on Tuesday. The company has a market cap of $2.79 billion, a P/E ratio of 70.69 and a beta of 1.10. The business has a fifty day simple moving average of $18.71 and a 200-day simple moving average of $18.73. Alignment Healthcare, Inc. has a 52 week low of $12.70 and a 52 week high of $25.12. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22.
Insider Buying and Selling at Alignment Healthcare
In other news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $19.55, for a total value of $586,500.00. Following the completion of the sale, the president owned 947,313 shares of the company’s stock, valued at $18,519,969.15. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, EVP Joseph S. Konowiecki sold 25,000 shares of the firm’s 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 in the company, valued at $26,491,584. This trade 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. Over the last quarter, insiders sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is currently owned by company insiders.
Analyst Upgrades and Downgrades
ALHC has been the topic of several research reports. JPMorgan Chase & Co. lowered their target price on Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research note on Monday, July 6th. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. TD Cowen reissued a “buy” rating on shares of Alignment Healthcare in a research note on Monday, August 3rd. Finally, Weiss Ratings restated a “hold (c-)” rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus price target of $23.60.
View Our Latest Research Report on ALHC
Alignment Healthcare Company 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.
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