The Manufacturers Life Insurance Company Purchases Shares of 202,726 Alignment Healthcare, Inc. $ALHC

The Manufacturers Life Insurance Company purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 202,726 shares of the company’s stock, valued at approximately $4,827,000. The Manufacturers Life Insurance Company owned approximately 0.10% of Alignment Healthcare at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ALHC. Summit Securities Group LLC bought a new position in shares of Alignment Healthcare during the fourth quarter worth about $26,000. Versant Capital Management Inc lifted its stake in Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock valued at $33,000 after acquiring an additional 1,135 shares in the last quarter. Parallel Advisors LLC lifted its stake in 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 acquiring an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new position in Alignment Healthcare during the 3rd quarter worth approximately $33,000. Finally, Signature Equity Partners LLC acquired a new position in Alignment Healthcare during the 1st quarter worth approximately $46,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price objective on shares of Alignment Healthcare from $26.00 to $22.00 and set an “overweight” rating on the stock in a report on Tuesday, August 4th. UBS Group reaffirmed a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Zacks Research downgraded shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Wall Street Zen lowered shares of Alignment Healthcare from a “buy” rating to a “hold” rating in a research note on Saturday, August 1st. Finally, Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and cut their price target for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Seven equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus target price of $23.60.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Hyong Kim sold 35,951 shares of the firm’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $19.86, for a total transaction of $713,986.86. Following the completion of the sale, the insider owned 331,750 shares of the company’s stock, valued at $6,588,555. This trade represents a 9.78% decrease in their position. The sale 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, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction on Wednesday, July 1st. The stock was 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 approximately $26,491,584. This trade represents a 2.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 1,009,951 shares of company stock valued at $18,597,287 over the last 90 days. 5.20% of the stock is owned by insiders.

Alignment Healthcare Trading Down 1.6%

Alignment Healthcare stock opened at $13.40 on Tuesday. The stock has a 50-day simple moving average of $17.93 and a 200 day simple moving average of $18.47. The stock has a market capitalization of $2.78 billion, a P/E ratio of 70.53 and a beta of 1.10. 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 52 week low of $12.70 and a 52 week high of $25.12.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.13 by $0.04. Alignment Healthcare had a return on equity of 20.02% and a net margin of 0.89%.The firm had revenue of $1.34 billion for the quarter, compared to analyst estimates of $1.31 billion. During the same quarter in the prior year, the company earned $0.07 earnings per share. The business’s revenue for the quarter was up 31.6% compared to the same quarter last year. Analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current year.

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.