The Manufacturers Life Insurance Company acquired a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC – Free Report) during the second quarter, HoldingsChannel reports. The fund acquired 202,726 shares of the company’s stock, valued at approximately $4,827,000.
Several other large investors have also recently added to or reduced their stakes in the company. Bank of America Corp DE boosted its position in shares of Alignment Healthcare by 156.5% in the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after acquiring an additional 1,961,778 shares during the period. 1492 Capital Management LLC increased its position in Alignment Healthcare by 61.8% during the fourth quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock worth $6,416,000 after acquiring an additional 124,143 shares during the period. Simplify Asset Management Inc. raised its stake in Alignment Healthcare by 92.0% in the 4th quarter. Simplify Asset Management Inc. now owns 262,880 shares of the company’s stock worth $5,192,000 after purchasing an additional 125,946 shares in the last quarter. William Blair Investment Management LLC boosted its holdings in 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 valued at $45,529,000 after purchasing an additional 185,303 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Alignment Healthcare by 36.5% in the 1st quarter. Principal Financial Group Inc. now owns 544,274 shares of the company’s stock valued at $9,590,000 after purchasing an additional 145,491 shares during the period. Institutional investors own 86.19% of the company’s stock.
Alignment Healthcare Stock Performance
Alignment Healthcare stock opened at $13.40 on Tuesday. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 1.22. The stock has a market cap of $2.78 billion, a PE ratio of 70.53 and a beta of 1.10. Alignment Healthcare, Inc. has a 12-month low of $12.70 and a 12-month high of $25.12. The business’s 50-day moving average price is $17.93 and its two-hundred day moving average price is $18.47.
Insider Activity at Alignment Healthcare
In other Alignment Healthcare news, EVP Joseph S. Konowiecki sold 25,000 shares of the business’s stock in a transaction 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 sale, the executive vice president owned 1,103,816 shares of the company’s stock, valued at approximately $26,491,584. The trade was a 2.21% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $19.55, for a total transaction of $586,500.00. Following the transaction, the president owned 947,313 shares of the company’s stock, valued at $18,519,969.15. This trade represents a 3.07% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 1,009,951 shares of company stock valued at $18,597,287 in the last quarter. 5.20% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
Several research analysts have recently commented on ALHC shares. Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and lowered their target price for the stock from $22.00 to $19.00 in a report on Monday, August 3rd. Zacks Research downgraded Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. TD Cowen reissued a “buy” rating on shares of Alignment Healthcare in a research report on Monday, August 3rd. UBS Group restated a “neutral” rating on shares of Alignment Healthcare in a research note on Wednesday, July 8th. Finally, KeyCorp reaffirmed an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $23.60.
Get Our Latest Research Report on Alignment Healthcare
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.
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