Rhenman & Partners Asset Management AB Trims Position in Alignment Healthcare, Inc. $ALHC

Rhenman & Partners Asset Management AB decreased its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 31.8% during the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 1,009,450 shares of the company’s stock after selling 469,834 shares during the quarter. Alignment Healthcare comprises 1.9% of Rhenman & Partners Asset Management AB’s holdings, making the stock its 15th biggest position. Rhenman & Partners Asset Management AB’s holdings in Alignment Healthcare were worth $19,937,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of ALHC. Hudson Bay Capital Management LP purchased a new position in Alignment Healthcare during the third quarter worth approximately $4,581,000. 1492 Capital Management LLC raised its stake in Alignment Healthcare by 61.8% during the fourth quarter. 1492 Capital Management LLC now owns 324,865 shares of the company’s stock worth $6,416,000 after purchasing an additional 124,143 shares during the period. Cinctive Capital Management LP purchased a new position in Alignment Healthcare during the third quarter worth approximately $3,814,000. Vanguard Group Inc. raised its stake in Alignment Healthcare by 5.0% during 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. Finally, William Blair Investment Management LLC raised its stake in Alignment Healthcare by 43.4% during 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. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Insider Buying and Selling

In other news, CEO John E. Kao sold 298,000 shares of the stock in a transaction on Wednesday, June 10th. The shares were sold at an average price of $20.36, for a total value of $6,067,280.00. Following the completion of the sale, the chief executive officer owned 1,386,766 shares of the company’s stock, valued at $28,234,555.76. This represents a 17.69% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $16.09, for a total transaction of $482,700.00. Following the completion of the sale, the president directly owned 998,813 shares of the company’s stock, valued at $16,070,901.17. The trade was a 2.92% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders have sold 1,584,685 shares of company stock valued at $30,401,143. 5.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on ALHC. Zacks Research raised shares of Alignment Healthcare from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, April 28th. Barclays cut 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. Raymond James Financial set a $22.00 price target on shares of Alignment Healthcare in a research note on Thursday, May 7th. Weiss Ratings raised shares of Alignment Healthcare from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Thursday, May 7th. 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 research 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. According to MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $24.30.

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 firm has a fifty day moving average of $18.53 and a 200-day moving average of $19.40. The firm has a market capitalization of $4.08 billion, a P/E ratio of 219.44, a PEG ratio of 2.73 and a beta of 1.14. The company has a quick ratio of 1.58, a current ratio of 1.58 and a debt-to-equity ratio of 1.56.

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