Alignment Healthcare, Inc. $ALHC Holdings Cut by Persistent Asset Partners Ltd

Persistent Asset Partners Ltd lowered its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 44.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The fund owned 126,929 shares of the company’s stock after selling 100,960 shares during the period. Alignment Healthcare accounts for 1.5% of Persistent Asset Partners Ltd’s portfolio, making the stock its 17th biggest holding. Persistent Asset Partners Ltd owned about 0.06% of Alignment Healthcare worth $2,215,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. Royal Bank of Canada raised its holdings in shares of Alignment Healthcare by 92.6% during the first quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock worth $1,720,000 after acquiring an additional 44,413 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in shares of Alignment Healthcare by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,594 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of Alignment Healthcare by 79.1% during the first quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock worth $18,112,000 after buying an additional 429,703 shares during the last quarter. Woodline Partners LP bought a new position in Alignment Healthcare in the 1st quarter valued at approximately $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Alignment Healthcare by 16.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock valued at $5,729,000 after acquiring an additional 44,452 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $20.63, for a total value of $618,900.00. Following the completion of the transaction, the president directly owned 997,015 shares of the company’s stock, valued at approximately $20,568,419.45. The trade was a 2.92% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher J. Joyce sold 10,611 shares of Alignment Healthcare stock in a transaction that occurred on Friday, January 2nd. The stock was sold at an average price of $20.03, for a total value of $212,538.33. Following the transaction, the insider owned 297,088 shares in the company, valued at approximately $5,950,672.64. The trade was a 3.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 2,150,938 shares of company stock valued at $42,274,570 in the last 90 days. 7.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

ALHC has been the topic of several research analyst reports. KeyCorp reissued an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. Piper Sandler lifted their target price on Alignment Healthcare from $20.00 to $30.00 and gave the stock an “overweight” rating in a research report on Tuesday, January 6th. Barclays lifted their price target on shares of Alignment Healthcare from $13.00 to $18.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. Zacks Research cut shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Tuesday, October 28th. Finally, The Goldman Sachs Group restated a “buy” rating and issued a $22.00 price objective on shares of Alignment Healthcare in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating, three have assigned a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $23.32.

Alignment Healthcare Stock Up 1.6%

Shares of NASDAQ:ALHC opened at $20.84 on Friday. The company has a debt-to-equity ratio of 1.99, a current ratio of 1.61 and a quick ratio of 1.61. The firm has a market capitalization of $4.17 billion, a PE ratio of -173.67, a price-to-earnings-growth ratio of 5.23 and a beta of 1.16. The business has a 50 day simple moving average of $21.01 and a two-hundred day simple moving average of $18.26. Alignment Healthcare, Inc. has a 1 year low of $11.63 and a 1 year high of $23.87.

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.