Granahan Investment Management LLC Trims Stake in Alignment Healthcare, Inc. $ALHC

Granahan Investment Management LLC lessened its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 22.3% during the 3rd quarter, HoldingsChannel reports. The fund owned 580,729 shares of the company’s stock after selling 166,338 shares during the quarter. Granahan Investment Management LLC’s holdings in Alignment Healthcare were worth $10,134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Royal Bank of Canada increased its stake in shares of Alignment Healthcare by 92.6% in the 1st quarter. Royal Bank of Canada now owns 92,379 shares of the company’s stock worth $1,720,000 after purchasing an additional 44,413 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Alignment Healthcare by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 59,557 shares of the company’s stock valued at $1,109,000 after purchasing an additional 2,594 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in Alignment Healthcare by 79.1% during the first quarter. Goldman Sachs Group Inc. now owns 972,715 shares of the company’s stock valued at $18,112,000 after purchasing an additional 429,703 shares during the period. Woodline Partners LP bought a new stake in Alignment Healthcare during the first quarter valued at about $2,142,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Alignment Healthcare by 16.9% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 307,655 shares of the company’s stock worth $5,729,000 after buying an additional 44,452 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 0.8%

Shares of ALHC stock opened at $16.99 on Monday. The company has a debt-to-equity ratio of 1.80, a quick ratio of 1.71 and a current ratio of 1.71. The stock has a fifty day simple moving average of $20.76 and a two-hundred day simple moving average of $18.77. The firm has a market capitalization of $3.47 billion, a PE ratio of -1,697.30, a PEG ratio of 2.49 and a beta of 1.19. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.10. The business had revenue of $1.01 billion for the quarter, compared to the consensus estimate of $1 billion. Alignment Healthcare had a negative return on equity of 0.49% and a negative net margin of 0.02%.The business’s revenue was up 44.4% on a year-over-year basis. During the same period in the previous year, the business earned ($0.16) earnings per share. On average, analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 48,899 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $17.45, for a total value of $853,287.55. Following the transaction, the chief executive officer directly owned 1,519,480 shares of the company’s stock, valued at approximately $26,514,926. The trade was a 3.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Andreas P. Wagner sold 21,118 shares of the business’s stock in a transaction that occurred on Wednesday, March 4th. The stock was sold at an average price of $18.62, for a total value of $393,217.16. Following the completion of the transaction, the insider directly owned 148,687 shares in the company, valued at approximately $2,768,551.94. This represents a 12.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 2,066,821 shares of company stock worth $40,250,493 over the last quarter. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

ALHC has been the topic of several recent research reports. TD Cowen raised their price objective on Alignment Healthcare from $18.50 to $25.00 and gave the stock a “buy” rating in a research note on Friday, January 16th. Weiss Ratings reiterated a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Wednesday, January 21st. Robert W. Baird set a $28.00 target price on shares of Alignment Healthcare in a report on Friday, January 30th. JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $23.00 to $26.00 and gave the stock an “overweight” rating in a research note on Thursday, February 5th. Finally, KeyCorp reaffirmed an “overweight” rating and set a $28.00 price target on shares of Alignment Healthcare in a report on Thursday, January 22nd. One equities research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, three have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average price target of $24.56.

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.