William Blair Investment Management LLC Purchases New Position in Alignment Healthcare, Inc. $ALHC

William Blair Investment Management LLC acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 7,761,403 shares of the company’s stock, valued at approximately $184,799,000. William Blair Investment Management LLC owned 3.74% of Alignment Healthcare at the end of the most recent quarter.

Other hedge funds have also bought and sold shares of the company. Summit Securities Group LLC bought a new stake in Alignment Healthcare during the 4th quarter valued at $26,000. Versant Capital Management Inc boosted its holdings in shares of Alignment Healthcare by 463.3% in the second 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 during the period. Parallel Advisors LLC boosted its holdings in shares of Alignment Healthcare by 87.7% in the fourth 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 shares of Alignment Healthcare in the third quarter valued at $33,000. Finally, Signature Equity Partners LLC purchased a new position in shares of Alignment Healthcare in the first quarter valued at $46,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Up 1.8%

ALHC opened at $13.16 on Friday. The firm has a market capitalization of $2.73 billion, a P/E ratio of 69.27 and a beta of 1.10. Alignment Healthcare, Inc. has a one year low of $12.70 and a one year high of $25.12. The company has a fifty day moving average price of $18.84 and a 200-day moving average price of $18.83. The company has a debt-to-equity ratio of 1.22, a current ratio of 1.70 and a quick ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The company had revenue of $1.34 billion for the quarter, compared to the consensus estimate of $1.31 billion. During the same quarter last year, the business posted $0.07 earnings per share. The firm’s revenue was up 31.6% compared to the same quarter last year. Equities research analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred 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 transaction, the president directly owned 947,313 shares in the company, valued at approximately $18,519,969.15. This represents a 3.07% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mark D. Kent bought 14,848 shares of the stock in a transaction that occurred on Tuesday, June 2nd. The stock was bought at an average cost of $13.31 per share, for a total transaction of $197,626.88. Following the completion of the purchase, the insider directly owned 14,848 shares of the company’s stock, valued at $197,626.88. This represents a ? increase in their ownership of the stock. The disclosure for this purchase is available in the SEC filing. Over the last quarter, insiders have sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ALHC. JPMorgan Chase & Co. dropped their price objective on Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. Wall Street Zen lowered Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a report on Monday, July 6th. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of Alignment Healthcare in a report on Tuesday, August 4th. Seven 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.com, Alignment Healthcare has an average rating of “Moderate Buy” and a consensus price target of $23.60.

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.