Alignment Healthcare, Inc. $ALHC Stock: Danica Pension Livsforsikringsaktieselskab Lowers Stake

Danica Pension Livsforsikringsaktieselskab trimmed its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 2.7% during the 3rd quarter, Holdings Channel.com reports. The institutional investor owned 3,587,259 shares of the company’s stock after selling 100,000 shares during the quarter. Danica Pension Livsforsikringsaktieselskab’s holdings in Alignment Healthcare were worth $29,272,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its stake in shares of Alignment Healthcare by 9.8% during the 2nd quarter. Wellington Management Group LLP now owns 18,780,363 shares of the company’s stock valued at $447,160,000 after purchasing an additional 1,681,427 shares during the period. William Blair Investment Management LLC bought a new position in Alignment Healthcare in the 2nd quarter worth $184,799,000. Bank of New York Mellon Corp bought a new position in Alignment Healthcare in the 2nd quarter worth $87,077,000. Bank of America Corp DE lifted its position in Alignment Healthcare by 156.5% during the first quarter. Bank of America Corp DE now owns 3,215,667 shares of the company’s stock valued at $56,660,000 after purchasing an additional 1,961,778 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Alignment Healthcare by 8.8% during the first quarter. Renaissance Technologies LLC now owns 2,903,100 shares of the company’s stock valued at $51,153,000 after purchasing an additional 235,900 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Price Performance

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

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Thursday, October 29th. The company reported ($0.04) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.04). Alignment Healthcare had a return on equity of 12.46% and a net margin of 0.59%. The firm had revenue of $1.36 billion for the quarter, compared to analysts’ expectations of $1.31 billion. During the same period in the previous year, the firm posted $0.02 earnings per share. The business’s revenue was up 36.7% compared to the same quarter last year. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.03 EPS for the current fiscal year.

Insider Buying and Selling

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 value of $269,575.70. Following the completion of the sale, the insider owned 299,271 shares in the company, 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 can be accessed through the SEC website. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, EVP Joseph S. Konowiecki sold 4,930 shares of the firm’s stock in a transaction dated Tuesday, November 10th. The stock was sold at an average price of $7.20, for a total transaction of $35,496.00. Following the completion of the sale, the executive vice president owned 1,075,375 shares of the company’s stock, valued at $7,742,700. This trade represents a 0.46% decrease in their position. The SEC filing for this sale provides additional information. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders have sold 768,897 shares of company stock valued at $9,541,746. 5.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

ALHC has been the subject of several recent research reports. KeyCorp lowered Alignment Healthcare from an “overweight” rating to a “sector weight” rating in a report on Friday, October 30th. The Goldman Sachs Group reaffirmed a “buy” rating and issued a $12.00 price objective on shares of Alignment Healthcare in a research note on Thursday, October 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $15.00 price objective on shares of Alignment Healthcare in a research report on Friday, October 30th. TD Cowen cut their price objective on Alignment Healthcare from $12.00 to $10.00 and set a “buy” rating for the company in a research note on Monday, November 2nd. Finally, Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a report on Saturday, August 1st. Six analysts have rated the stock with a Buy rating, six have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $14.00.

About Alignment Healthcare

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.