Geode Capital Management LLC Acquires 299,279 Shares of Alignment Healthcare, Inc. $ALHC

Geode Capital Management LLC boosted its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 8.4% during the fourth quarter, Holdings Channel reports. The fund owned 3,841,703 shares of the company’s stock after purchasing an additional 299,279 shares during the period. Geode Capital Management LLC’s holdings in Alignment Healthcare were worth $75,884,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in Alignment Healthcare in the 3rd quarter valued at $33,000. First Horizon Corp bought a new stake in Alignment Healthcare in the 4th quarter valued at $39,000. GAMMA Investing LLC raised its stake in Alignment Healthcare by 83.8% in the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after acquiring an additional 987 shares during the period. Wilmington Savings Fund Society FSB bought a new stake in Alignment Healthcare in the 3rd quarter valued at $53,000. Finally, PNC Financial Services Group Inc. raised its stake in Alignment Healthcare by 205.6% in the 3rd quarter. PNC Financial Services Group Inc. now owns 3,459 shares of the company’s stock valued at $60,000 after acquiring an additional 2,327 shares during the period. Institutional investors own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Barclays dropped their price target on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating on the stock in a research note on Tuesday, May 26th. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. UBS Group increased their price objective on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. Finally, Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Thursday, May 7th. One equities research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average price target of $24.30.

Insider Activity at Alignment Healthcare

In other news, insider Christopher J. Joyce sold 18,013 shares of the stock in a transaction on Wednesday, April 1st. The stock was sold at an average price of $17.79, for a total transaction of $320,451.27. Following the sale, the insider directly owned 305,451 shares of the company’s stock, valued at approximately $5,433,973.29. This represents a 5.57% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Mark D. Kent bought 14,848 shares of Alignment Healthcare stock in a transaction dated Tuesday, June 2nd. The shares were bought at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the acquisition, the insider owned 14,848 shares in the company, valued at $197,626.88. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. Insiders sold a total of 1,368,741 shares of company stock worth $25,765,741 in the last quarter. 5.20% of the stock is currently owned by corporate insiders.

Alignment Healthcare Stock Down 0.1%

ALHC stock opened at $15.35 on Tuesday. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 170.56, a PEG ratio of 2.08 and a beta of 1.14. The business’s fifty day moving average price is $18.31 and its two-hundred day moving average price is $19.32. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, topping the consensus estimate of $0.01 by $0.04. The firm had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company’s quarterly revenue was up 33.3% compared to the same quarter last year. During the same quarter last year, the business earned ($0.05) EPS. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current year.

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.