Simplify Asset Management Inc. Sells 69,848 Shares of Alignment Healthcare, Inc. $ALHC

Simplify Asset Management Inc. lessened its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 26.6% during the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 193,032 shares of the company’s stock after selling 69,848 shares during the quarter. Simplify Asset Management Inc.’s holdings in Alignment Healthcare were worth $3,401,000 at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the stock. Summit Securities Group LLC purchased a new position in Alignment Healthcare during the fourth quarter worth $26,000. Parallel Advisors LLC lifted its holdings in shares of Alignment Healthcare by 87.7% in the 4th quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after acquiring an additional 773 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of Alignment Healthcare in the 3rd quarter worth about $33,000. First Horizon Corp purchased a new position in shares of Alignment Healthcare during the 4th quarter worth about $39,000. Finally, GAMMA Investing LLC boosted its stake in shares of Alignment Healthcare by 83.8% during the 4th quarter. GAMMA Investing LLC now owns 2,165 shares of the company’s stock worth $43,000 after purchasing an additional 987 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Insider Activity at Alignment Healthcare

In other news, EVP Joseph S. Konowiecki sold 25,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, June 26th. The shares were sold at an average price of $23.00, for a total transaction of $575,000.00. Following the completion of the sale, the executive vice president owned 1,128,816 shares of the company’s stock, valued at approximately $25,962,768. The trade was a 2.17% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Hyong Kim sold 35,951 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $19.86, for a total value 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. The trade was a 9.78% 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. Insiders have sold 1,331,051 shares of company stock valued at $26,333,006 over the last 90 days. 5.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities analysts recently commented on ALHC shares. 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 report on Tuesday, May 26th. KeyCorp restated an “overweight” rating on shares of Alignment Healthcare in a research report on Wednesday, June 10th. Wall Street Zen raised Alignment Healthcare from a “hold” rating to a “buy” rating in a research note on Saturday, May 9th. Wolfe Research began coverage on Alignment Healthcare in a research note on Friday, April 17th. They set an “outperform” rating and a $24.00 target price on the stock. Finally, Raymond James Financial set a $22.00 price target on Alignment Healthcare in a report on Thursday, May 7th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $24.30.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $23.80 on Friday. The stock has a market cap of $4.92 billion, a PE ratio of 264.44, a PEG ratio of 3.21 and a beta of 1.05. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month high of $24.30. The company’s 50-day moving average price is $19.02 and its 200-day moving average price is $19.73. The company has a current ratio of 1.58, a quick ratio of 1.58 and a debt-to-equity ratio of 1.56.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business posted ($0.05) EPS. The firm’s revenue for the quarter was up 33.3% on a year-over-year basis. Equities research analysts forecast that Alignment Healthcare, Inc. will post 0.2 earnings per share 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.