SEB Asset Management AB Takes $7.73 Million Position in Alignment Healthcare, Inc. $ALHC

SEB Asset Management AB acquired a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 438,537 shares of the company’s stock, valued at approximately $7,727,000.

A number of other hedge funds have also bought and sold shares of the company. Vanguard Group Inc. lifted its holdings in Alignment Healthcare by 10.9% in the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after buying an additional 1,524,218 shares during the period. Wellington Management Group LLP grew its holdings in Alignment Healthcare by 26.9% during the 4th quarter. Wellington Management Group LLP now owns 14,070,893 shares of the company’s stock worth $277,900,000 after acquiring an additional 2,981,166 shares during the period. T. Rowe Price Investment Management Inc. grew its holdings in Alignment Healthcare by 0.6% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 12,643,784 shares of the company’s stock worth $249,715,000 after acquiring an additional 79,268 shares during the period. Invesco Ltd. raised its position in shares of Alignment Healthcare by 38.9% in the 4th quarter. Invesco Ltd. now owns 6,202,592 shares of the company’s stock worth $122,501,000 after acquiring an additional 1,735,962 shares in the last quarter. Finally, 8 Knots Management LLC raised its position in shares of Alignment Healthcare by 6.4% in the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after acquiring an additional 300,409 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Insider Buying and Selling

In related news, CEO John E. Kao sold 298,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, June 10th. The stock was sold at an average price of $20.36, for a total transaction of $6,067,280.00. Following the transaction, the chief executive officer owned 1,386,766 shares of the company’s stock, valued at $28,234,555.76. The trade was a 17.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of Alignment Healthcare stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider directly owned 331,750 shares in the company, valued at approximately $6,588,555. The trade was a 9.78% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,039,951 shares of company stock valued at $19,976,967. 5.20% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $21.50 on Wednesday. The company has a market cap of $4.44 billion, a P/E ratio of 238.89, a PEG ratio of 2.85 and a beta of 1.05. The company has a fifty day simple moving average of $19.38 and a 200 day simple moving average of $19.87. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56. Alignment Healthcare, Inc. has a 12-month low of $11.63 and a 12-month high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last released 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 the consensus estimate of $1.22 billion. Alignment Healthcare had a net margin of 0.47% and a return on equity of 11.50%. The business’s revenue was up 33.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.05) earnings per share. Sell-side analysts predict that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several brokerages recently commented on ALHC. Zacks Research lowered Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Wolfe Research initiated coverage on Alignment Healthcare in a research note on Friday, April 17th. They issued an “outperform” rating and a $24.00 price target on the stock. Raymond James Financial set a $22.00 price target on Alignment Healthcare in a research note on Thursday, May 7th. Finally, Weiss Ratings upgraded Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a report on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and four have given a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Alignment Healthcare 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.