Next Century Growth Investors LLC Purchases 35,542 Shares of Alignment Healthcare, Inc. $ALHC

Next Century Growth Investors LLC raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1.6% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 2,308,287 shares of the company’s stock after buying an additional 35,542 shares during the quarter. Alignment Healthcare comprises about 3.2% of Next Century Growth Investors LLC’s holdings, making the stock its 5th largest position. Next Century Growth Investors LLC owned approximately 1.15% of Alignment Healthcare worth $45,589,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Vanguard Group Inc. increased its stake in Alignment Healthcare by 10.9% in the 4th quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company’s stock valued at $305,983,000 after buying an additional 1,524,218 shares during the period. Wellington Management Group LLP grew its stake in shares of Alignment Healthcare by 167.3% during the 3rd quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company’s stock worth $193,516,000 after purchasing an additional 6,940,277 shares during the period. 8 Knots Management LLC grew its stake in shares of Alignment Healthcare by 6.4% during the 2nd quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company’s stock worth $70,222,000 after purchasing an additional 300,409 shares during the period. Invesco Ltd. grew its stake in shares of Alignment Healthcare by 7.1% during the 3rd quarter. Invesco Ltd. now owns 4,466,630 shares of the company’s stock worth $77,943,000 after purchasing an additional 296,101 shares during the period. Finally, Geode Capital Management LLC grew its stake in shares of Alignment Healthcare by 8.4% during the 4th quarter. Geode Capital Management LLC now owns 3,841,703 shares of the company’s stock worth $75,884,000 after purchasing an additional 299,279 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on ALHC shares. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research note on Thursday, May 7th. Wolfe Research started coverage on shares of Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 price target on the stock. Barclays lowered their price target 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. UBS Group upped their price target on shares of Alignment Healthcare from $21.00 to $22.00 and gave the stock a “neutral” rating in a research note on Friday, May 1st. Finally, Wall Street Zen raised shares of Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. One analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating and three have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $24.30.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 298,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $16.89, for a total transaction of $5,033,220.00. Following the transaction, the chief executive officer directly owned 1,508,641 shares in the company, valued at $25,480,946.49. This represents a 16.49% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of the stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the transaction, the president owned 1,058,813 shares in the company, valued at approximately $18,889,223.92. The trade was a 3.35% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 1,584,685 shares of company stock worth $30,401,143. 5.20% of the stock is owned by insiders.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $19.75 on Friday. Alignment Healthcare, Inc. has a 52 week low of $11.63 and a 52 week high of $23.87. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56. The firm’s 50-day simple moving average is $18.53 and its 200 day simple moving average is $19.40. The firm has a market capitalization of $4.08 billion, a PE ratio of 219.44, a P/E/G ratio of 2.67 and a beta of 1.14.

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

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.