Alignment Healthcare, Inc. $ALHC Shares Bought by Renaissance Technologies LLC

Renaissance Technologies LLC lifted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 8.8% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 2,903,100 shares of the company’s stock after buying an additional 235,900 shares during the period. Renaissance Technologies LLC owned approximately 1.40% of Alignment Healthcare worth $51,153,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in ALHC. Summit Securities Group LLC purchased a new stake in Alignment Healthcare during the 4th quarter valued at approximately $26,000. Larson Financial Group LLC purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at approximately $33,000. Parallel Advisors LLC grew its stake in shares of Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock valued at $33,000 after purchasing an additional 773 shares during the last quarter. First Horizon Corp acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $39,000. Finally, GAMMA Investing LLC increased its holdings in shares of Alignment Healthcare by 83.8% in the fourth quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock valued at $43,000 after purchasing an additional 987 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other news, EVP Joseph S. Konowiecki sold 25,000 shares of the company’s stock in a transaction on Wednesday, July 1st. The shares were sold at an average price of $24.00, for a total transaction of $600,000.00. Following the transaction, the executive vice president directly owned 1,103,816 shares of the company’s stock, valued at $26,491,584. This represents a 2.21% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $19.86, for a total transaction of $713,986.86. Following the completion of the transaction, the insider owned 331,750 shares of the company’s stock, valued at $6,588,555. This represents a 9.78% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 1,039,951 shares of company stock worth $19,976,967. Company insiders own 5.20% of the company’s stock.

Alignment Healthcare Stock Down 3.9%

Alignment Healthcare stock opened at $18.67 on Tuesday. The stock’s 50 day moving average price is $19.62 and its 200 day moving average price is $19.85. Alignment Healthcare, Inc. has a 1-year low of $11.66 and a 1-year high of $25.12. The company has a market cap of $3.86 billion, a PE ratio of 207.44, a price-to-earnings-growth ratio of 2.62 and a beta of 1.05. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58.

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

Analysts Set New Price Targets

Several equities research analysts recently weighed in on ALHC shares. UBS Group reaffirmed a “neutral” rating on shares of Alignment Healthcare in a report on Wednesday, July 8th. Barclays dropped their price objective on shares of 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. Wolfe Research began coverage on shares of Alignment Healthcare in a research note on Friday, April 17th. They issued an “outperform” rating and a $24.00 target price for the company. Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a report on Saturday, May 9th. Finally, KeyCorp reiterated an “overweight” rating on shares of Alignment Healthcare in a research note on Wednesday, June 10th. Six analysts have rated the stock with a Buy rating and four have issued a Hold rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $24.30.

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.