Alignment Healthcare, Inc. $ALHC Shares Sold by William Blair Investment Management LLC

William Blair Investment Management LLC lowered its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 19.5% during the third quarter, HoldingsChannel reports. The fund owned 6,249,117 shares of the company’s stock after selling 1,512,286 shares during the quarter. William Blair Investment Management LLC’s holdings in Alignment Healthcare were worth $50,993,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently bought and sold shares of the stock. Danica Pension Livsforsikringsaktieselskab bought a new stake in Alignment Healthcare in the 2nd quarter valued at $87,794,000. Bank of New York Mellon Corp bought a new position in shares of Alignment Healthcare during the 2nd quarter worth about $87,077,000. Bank of America Corp DE increased its holdings in shares of Alignment Healthcare by 156.5% during the 1st quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock worth $56,660,000 after purchasing an additional 1,961,778 shares during the period. Allspring Global Investments Holdings LLC increased its holdings in shares of Alignment Healthcare by 276.7% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,458,400 shares of the company’s stock worth $43,882,000 after purchasing an additional 1,805,752 shares during the period. Finally, Wellington Management Group LLP raised its position in shares of Alignment Healthcare by 9.8% during the second quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company’s stock valued at $447,160,000 after buying an additional 1,681,427 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of research analyst reports. Needham & Company LLC assumed coverage on shares of Alignment Healthcare in a research report on Wednesday, October 28th. They set a “hold” rating for the company. William Blair downgraded Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research report on Friday, October 9th. KeyCorp lowered Alignment Healthcare from an “overweight” rating to a “sector weight” rating in a research note on Friday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $12.00 price target on shares of Alignment Healthcare in a report on Thursday, October 22nd. Finally, JPMorgan Chase & Co. reduced their price objective on Alignment Healthcare from $10.00 to $8.00 and set an “overweight” rating for the company in a research report on Friday, October 30th. Six analysts have rated the stock with a Buy rating, six have assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $14.00.

Alignment Healthcare Stock Performance

ALHC stock traded down $0.14 during midday trading on Friday, hitting $7.36. The stock had a trading volume of 2,723,989 shares, compared to its average volume of 5,384,573. Alignment Healthcare, Inc. has a 52 week low of $6.01 and a 52 week high of $25.12. The company has a current ratio of 1.71, a quick ratio of 1.71 and a debt-to-equity ratio of 1.17. The stock has a 50-day simple moving average of $8.66 and a 200 day simple moving average of $16.07. The firm has a market capitalization of $1.54 billion, a price-to-earnings ratio of 56.62 and a beta of 1.07.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.04). The firm had revenue of $1.36 billion for the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a net margin of 0.59% and a return on equity of 12.46%. The business’s revenue for the quarter was up 36.7% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.02 EPS. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.03 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, insider Hyong Kim sold 32,479 shares of the firm’s stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $8.30, for a total transaction of $269,575.70. Following the completion of the transaction, the insider directly owned 299,271 shares of the company’s stock, valued at approximately $2,483,949.30. This trade represents a 9.79% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO John Kao sold 385,270 shares of Alignment Healthcare stock in a transaction dated Friday, September 11th. The shares were sold at an average price of $12.68, for a total transaction of $4,885,223.60. Following the sale, the chief executive officer owned 1,223,473 shares in the company, valued at approximately $15,513,637.64. This trade represents a 23.95% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold a total of 768,897 shares of company stock valued at $9,541,746 over the last quarter. 5.20% of the stock is currently owned by insiders.

Alignment Healthcare Profile

Alignment Healthcare, Inc. is a technology-enabled healthcare company focused primarily on serving older adults through Medicare Advantage plans. Its health plans, offered under the Alignment Health Plan name, combine insurance coverage with care coordination and support intended to address members’ medical and everyday health needs. The company uses a care model that includes personalized care teams, member support and technology to help coordinate services across providers. Its Medicare Advantage offerings include plan options such as HMO and PPO products, with availability and benefits varying by location.