Geode Capital Management LLC Has $75.88 Million Stock Position in Alignment Healthcare, Inc. $ALHC

Geode Capital Management LLC increased its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 8.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 3,841,703 shares of the company’s stock after purchasing an additional 299,279 shares during the quarter. Geode Capital Management LLC owned approximately 1.92% of Alignment Healthcare worth $75,884,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Hudson Bay Capital Management LP acquired a new stake in Alignment Healthcare in the third quarter worth about $4,581,000. Cinctive Capital Management LP acquired a new stake in Alignment Healthcare in the third quarter worth about $3,814,000. Vanguard Group Inc. increased its position in Alignment Healthcare by 5.0% in the third quarter. Vanguard Group Inc. now owns 13,968,584 shares of the company’s stock worth $243,752,000 after purchasing an additional 664,769 shares during the period. William Blair Investment Management LLC increased its position in Alignment Healthcare by 43.4% in the third quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company’s stock worth $36,993,000 after purchasing an additional 641,381 shares during the period. Finally, Picton Mahoney Asset Management acquired a new stake in Alignment Healthcare in the third quarter worth about $6,873,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Alignment Healthcare

In other news, insider Christopher J. Joyce sold 18,013 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was sold at an average price of $17.79, for a total transaction of $320,451.27. Following the sale, the insider owned 305,451 shares in the company, valued at $5,433,973.29. This represents a 5.57% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CFO James M. Head sold 11,100 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $21.08, for a total value of $233,988.00. Following the sale, the chief financial officer owned 173,495 shares in the company, valued at approximately $3,657,274.60. This represents a 6.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 1,368,741 shares of company stock worth $25,765,741. Insiders own 5.20% of the company’s stock.

Alignment Healthcare Trading Down 0.1%

NASDAQ ALHC opened at $15.35 on Tuesday. The stock has a market capitalization of $3.17 billion, a price-to-earnings ratio of 170.56, a PEG ratio of 2.08 and a beta of 1.14. The stock’s 50 day moving average price is $18.31 and its two-hundred day moving average price is $19.32. The company has a debt-to-equity ratio of 1.56, a quick ratio of 1.58 and a current ratio of 1.58. 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, April 30th. The company reported $0.05 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company had revenue of $1.24 billion for the quarter, compared to analysts’ expectations of $1.22 billion. During the same quarter in the prior year, the business posted ($0.05) EPS. The business’s revenue was up 33.3% compared to the same quarter last year. As a group, analysts anticipate that Alignment Healthcare, Inc. will post 0.2 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Zacks Research upgraded Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research report on Tuesday, April 28th. Barclays decreased their target price on Alignment Healthcare from $19.00 to $16.00 and set an “equal weight” rating for the company in a research report on Tuesday, May 26th. Wall Street Zen upgraded Alignment Healthcare from a “hold” rating to a “buy” rating in a research report on Saturday, May 9th. UBS Group boosted their target price on Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research report on Friday, May 1st. Finally, Raymond James Financial set a $22.00 target price on Alignment Healthcare in a research report on Thursday, May 7th. One investment analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating and three have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target 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.