Royce & Associates LP Makes New Investment in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Royce & Associates LP bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 320,000 shares of the company’s stock, valued at approximately $3,782,000.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in Alignment Healthcare by 1.0% during the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock worth $14,487,000 after buying an additional 968,637 shares during the last quarter. Jacobs Levy Equity Management Inc. purchased a new stake in shares of Alignment Healthcare during the 1st quarter valued at about $918,000. Virtu Financial LLC bought a new position in shares of Alignment Healthcare in the 1st quarter valued at about $57,000. Finally, Bank of New York Mellon Corp grew its position in Alignment Healthcare by 27.5% in the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after acquiring an additional 82,559 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of recent research reports. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Stifel Nicolaus raised their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Barclays lifted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research note on Wednesday, October 30th. TD Cowen increased their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, UBS Group lifted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $10.33.

Alignment Healthcare Trading Down 2.8 %

Shares of ALHC opened at $11.17 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $2.14 billion, a price-to-earnings ratio of -14.50 and a beta of 1.45. The company has a 50-day moving average of $11.62 and a 200 day moving average of $9.45. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same quarter in the previous year, the business earned ($0.19) earnings per share. Alignment Healthcare’s quarterly revenue was up 51.6% on a year-over-year basis. On average, research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Robert Thomas Freeman sold 4,483 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total transaction of $53,840.83. Following the transaction, the chief financial officer now directly owns 159,626 shares of the company’s stock, valued at $1,917,108.26. This trade represents a 2.73 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Dawn Christine Maroney sold 7,074 shares of the company’s stock in a transaction on Thursday, August 22nd. The stock was sold at an average price of $9.02, for a total value of $63,807.48. Following the sale, the insider now owns 1,789,023 shares of the company’s stock, valued at approximately $16,136,987.46. This represents a 0.39 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 515,507 shares of company stock worth $6,158,835. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare Profile

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform for seniors in the United States. It provides customized health care designed to meet the needs of a diverse array of seniors through its Medicare advantage plans. The company was founded in 2013 and is based in Orange, California.