Blue Trust Inc. Has $1.46 Million Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Blue Trust Inc. cut its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 51.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 123,694 shares of the company’s stock after selling 133,263 shares during the period. Blue Trust Inc. owned 0.06% of Alignment Healthcare worth $1,462,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the company. Creative Planning increased its stake in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the period. Principal Financial Group Inc. grew its holdings in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after buying an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC increased its position in Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares during the period. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the third quarter worth $95,000. Finally, The Manufacturers Life Insurance Company boosted its position in shares of Alignment Healthcare by 20.9% in the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock valued at $434,000 after acquiring an additional 9,595 shares during the period. Institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on ALHC shares. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price target (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. KeyCorp assumed coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. TD Cowen increased their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Barclays lifted their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a report on Monday, August 5th. Finally, Stifel Nicolaus increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average price target of $9.83.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $10.88 on Friday. The stock has a market cap of $2.08 billion, a PE ratio of -12.95 and a beta of 1.47. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $12.36. The business’s 50-day moving average price is $10.28 and its two-hundred day moving average price is $8.35.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.14) by $0.01. The company had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The firm’s revenue was up 47.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) EPS. As a group, analysts expect that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current fiscal year.

Insider Transactions at Alignment Healthcare

In related news, insider Dawn Christine Maroney sold 20,000 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total transaction of $174,000.00. Following the sale, the insider now owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other Alignment Healthcare news, insider Hakan Kardes sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total value of $287,000.00. Following the completion of the transaction, the insider now directly owns 380,444 shares in the company, valued at approximately $4,367,497.12. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total transaction of $174,000.00. Following the transaction, the insider now owns 1,796,097 shares in the company, valued at approximately $15,626,043.90. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 314,940 shares of company stock worth $3,487,014. Corporate insiders own 6.60% of the company’s stock.

About Alignment Healthcare

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.