Wellington Management Group LLP Boosts Stock Position in Alignment Healthcare, Inc. $ALHC

Wellington Management Group LLP increased its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 9.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 18,780,363 shares of the company’s stock after acquiring an additional 1,681,427 shares during the period. Wellington Management Group LLP owned about 0.09% of Alignment Healthcare worth $447,160,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Allworth Financial LP grew its position in Alignment Healthcare by 8.9% in the 4th quarter. Allworth Financial LP now owns 6,917 shares of the company’s stock valued at $137,000 after acquiring an additional 566 shares in the last quarter. Integrated Wealth Concepts LLC increased its stake in Alignment Healthcare by 6.3% during the third quarter. Integrated Wealth Concepts LLC now owns 11,230 shares of the company’s stock worth $196,000 after purchasing an additional 665 shares during the period. Parallel Advisors LLC lifted its position in shares of Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after purchasing an additional 773 shares in the last quarter. Tidal Investments LLC lifted its position in shares of Alignment Healthcare by 4.9% during the second quarter. Tidal Investments LLC now owns 18,094 shares of the company’s stock worth $253,000 after purchasing an additional 852 shares in the last quarter. Finally, PNC Financial Services Group Inc. boosted its stake in shares of Alignment Healthcare by 9.2% in the first quarter. PNC Financial Services Group Inc. now owns 11,445 shares of the company’s stock valued at $202,000 after purchasing an additional 962 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Barclays dropped their price objective on shares of Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a report on Tuesday, May 26th. KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a report on Wednesday, June 10th. Weiss Ratings reissued a “hold (c-)” rating on shares of Alignment Healthcare in a research report on Tuesday, August 4th. TD Cowen reissued a “buy” rating on shares of Alignment Healthcare in a research report on Monday, August 3rd. Finally, Raymond James Financial downgraded shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and dropped their price target for the stock from $22.00 to $19.00 in a research note on Monday, August 3rd. Seven analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $23.60.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock opened at $13.62 on Friday. The business has a 50-day simple moving average of $18.09 and a 200-day simple moving average of $18.53. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. Alignment Healthcare, Inc. has a one year low of $12.70 and a one year high of $25.12. The company has a market cap of $2.83 billion, a PE ratio of 71.69 and a beta of 1.10.

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

Insider Buying and Selling

In other news, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction on Monday, August 10th. The shares were sold at an average price of $13.88, for a total transaction of $4,136,240.00. Following the completion of the sale, the chief executive officer directly owned 790,766 shares of the company’s stock, valued at approximately $10,975,832.08. The trade was a 27.37% decrease in their position. 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 shares were purchased at an average price of $13.31 per share, with a total value of $197,626.88. Following the purchase, the insider owned 14,848 shares of the company’s stock, valued at approximately $197,626.88. This represents a ? increase in their position. The SEC filing for this purchase provides additional information. In the last 90 days, insiders sold 1,009,951 shares of company stock worth $18,597,287. Corporate insiders own 5.20% of the company’s stock.

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.