Blue Trust Inc. Buys 82,476 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Blue Trust Inc. raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 47.4% in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 256,452 shares of the company’s stock after purchasing an additional 82,476 shares during the period. Blue Trust Inc. owned 0.13% of Alignment Healthcare worth $1,272,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in ALHC. Hsbc Holdings PLC bought a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $206,000. Teza Capital Management LLC bought a new position in shares of Alignment Healthcare during the 3rd quarter valued at about $109,000. Vanguard Group Inc. boosted its holdings in shares of Alignment Healthcare by 3.7% during the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock valued at $63,303,000 after purchasing an additional 322,661 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 123.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 36,236 shares of the company’s stock valued at $312,000 after purchasing an additional 20,030 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in shares of Alignment Healthcare by 18.4% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,289 shares of the company’s stock valued at $269,000 after acquiring an additional 4,862 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Insider Transactions at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction on Wednesday, June 12th. The shares were sold at an average price of $8.21, for a total transaction of $164,200.00. Following the completion of the sale, the insider now directly owns 1,956,097 shares in the company, valued at $16,059,556.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, insider Christopher J. Joyce sold 16,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $8.01, for a total transaction of $128,160.00. Following the completion of the transaction, the insider now owns 422,912 shares of the company’s stock, valued at $3,387,525.12. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction on Wednesday, June 12th. The stock was sold at an average price of $8.21, for a total transaction of $164,200.00. Following the transaction, the insider now directly owns 1,956,097 shares of the company’s stock, valued at approximately $16,059,556.37. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 37,866 shares of company stock worth $307,360. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Price Performance

ALHC traded up $0.01 during trading on Friday, hitting $7.96. The stock had a trading volume of 293,218 shares, compared to its average volume of 791,889. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $9.20. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The stock has a 50 day simple moving average of $7.35 and a two-hundred day simple moving average of $6.68.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.24) by ($0.01). The firm had revenue of $628.60 million during the quarter, compared to analyst estimates of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. Alignment Healthcare’s revenue was up 43.1% on a year-over-year basis. During the same quarter last year, the business earned ($0.20) earnings per share. As a group, research analysts forecast that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Analyst Ratings Changes

ALHC has been the topic of a number of recent analyst reports. Stephens increased their price objective on shares of Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, May 3rd. Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a research report on Thursday, May 30th. Stifel Nicolaus reduced their price objective on shares of Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday, April 23rd. Robert W. Baird initiated coverage on shares of Alignment Healthcare in a research report on Thursday, May 30th. They issued an “outperform” rating and a $10.00 price objective on the stock. Finally, Piper Sandler raised shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $6.00 to $8.00 in a research report on Wednesday, May 8th. One investment analyst has rated the stock with a sell rating, two have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average price target of $9.20.

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.