Teachers Retirement System of The State of Kentucky Raises Stock Position in Alignment Healthcare, Inc. $ALHC

Teachers Retirement System of The State of Kentucky boosted its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 103.4% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 93,685 shares of the company’s stock after purchasing an additional 47,620 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in Alignment Healthcare were worth $1,850,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Teacher Retirement System of Texas grew its position in shares of Alignment Healthcare by 85.8% during the third quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock valued at $1,794,000 after purchasing an additional 47,472 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in Alignment Healthcare in the third quarter worth about $3,499,000. Hudson Bay Capital Management LP bought a new stake in Alignment Healthcare in the third quarter worth about $4,581,000. Cinctive Capital Management LP bought a new stake in Alignment Healthcare in the third quarter worth about $3,814,000. Finally, Picton Mahoney Asset Management bought a new stake in Alignment Healthcare in the third quarter worth about $6,873,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $21.90 on Wednesday. The firm has a market cap of $4.53 billion, a price-to-earnings ratio of -2,187.81, a PEG ratio of 4.30 and a beta of 1.20. The company’s 50 day moving average is $19.33 and its 200 day moving average is $19.38. The company has a quick ratio of 1.71, a current ratio of 1.71 and a debt-to-equity ratio of 1.80. Alignment Healthcare, Inc. has a 52-week low of $11.63 and a 52-week high of $23.87.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, February 26th. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.10. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $1 billion. Alignment Healthcare had a negative net margin of 0.02% and a negative return on equity of 0.49%. Alignment Healthcare’s revenue was up 44.4% compared to the same quarter last year. During the same period last year, the company posted ($0.16) earnings per share. On average, sell-side analysts anticipate that Alignment Healthcare, Inc. will post 0.13 EPS for the current fiscal year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 250,000 shares of Alignment Healthcare stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $21.01, for a total value of $5,252,500.00. Following the transaction, the chief executive officer directly owned 2,104,641 shares of the company’s stock, valued at approximately $44,218,507.41. The trade was a 10.62% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, President Dawn Christine Maroney sold 36,749 shares of Alignment Healthcare stock in a transaction on Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the completion of the transaction, the president directly owned 1,058,813 shares in the company, valued at $18,889,223.92. This represents a 3.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last three months, insiders have sold 1,474,097 shares of company stock worth $28,679,550. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Piper Sandler lifted their price target on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research note on Monday, April 20th. Robert W. Baird set a $28.00 price target on shares of Alignment Healthcare in a research note on Friday, January 30th. Wolfe Research assumed 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 for the company. Finally, TD Cowen lifted their price target on shares of Alignment Healthcare from $18.50 to $25.00 and gave the company a “buy” rating in a research note on Friday, January 16th. One research analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, three have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $24.67.

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.