Connor Clark & Lunn Investment Management Ltd. Takes Position in Alignment Healthcare, Inc. $ALHC

Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 152,548 shares of the company’s stock, valued at approximately $3,632,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Summit Securities Group LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $26,000. Versant Capital Management Inc raised its holdings in Alignment Healthcare by 463.3% in the 2nd quarter. Versant Capital Management Inc now owns 1,380 shares of the company’s stock worth $33,000 after purchasing an additional 1,135 shares during the period. Parallel Advisors LLC boosted its position in Alignment Healthcare by 87.7% during the fourth quarter. Parallel Advisors LLC now owns 1,654 shares of the company’s stock worth $33,000 after purchasing an additional 773 shares in the last quarter. Larson Financial Group LLC acquired a new stake in Alignment Healthcare in the third quarter valued at approximately $33,000. Finally, Signature Equity Partners LLC acquired a new stake in Alignment Healthcare in the first quarter valued at approximately $46,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 0.4%

Shares of ALHC stock opened at $13.62 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $12.70 and a fifty-two week high of $25.12. The company has a debt-to-equity ratio of 1.22, a quick ratio of 1.70 and a current ratio of 1.70. The stock’s fifty day moving average is $18.09 and its two-hundred day moving average is $18.53. The firm has a market capitalization of $2.83 billion, a P/E ratio of 71.69 and a beta of 1.10.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, July 30th. The company reported $0.17 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.13 by $0.04. The business had revenue of $1.34 billion during the quarter, compared to analyst estimates of $1.31 billion. Alignment Healthcare had a net margin of 0.89% and a return on equity of 20.02%. The company’s revenue for the quarter was up 31.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.07 earnings per share. Research analysts expect that Alignment Healthcare, Inc. will post 0.17 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Mark D. Kent bought 14,848 shares of the firm’s stock in a transaction on Tuesday, June 2nd. The shares were acquired at an average cost of $13.31 per share, with a total value of $197,626.88. Following the purchase, the insider directly owned 14,848 shares of the company’s stock, valued at $197,626.88. This trade represents a ∞ increase in their position. The acquisition was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Hyong Kim sold 35,951 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $19.86, for a total value of $713,986.86. Following the transaction, the insider owned 331,750 shares in the company, valued at approximately $6,588,555. This represents a 9.78% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 1,009,951 shares of company stock worth $18,597,287. 5.20% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on ALHC. UBS Group reiterated a “neutral” rating on shares of Alignment Healthcare in a research report on Wednesday, July 8th. Raymond James Financial cut shares of Alignment Healthcare from a “strong-buy” rating to an “outperform” rating and reduced their price objective for the stock from $22.00 to $19.00 in a research report on Monday, August 3rd. Zacks Research lowered shares of Alignment Healthcare from a “strong-buy” rating to a “hold” rating in a research report on Monday, July 6th. Weiss Ratings reissued a “hold (c-)” rating on shares of Alignment Healthcare in a research note on Tuesday, August 4th. Finally, Barclays reduced their price target on shares of 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. Seven analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $23.60.

Alignment Healthcare Company 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.