PDT Partners LLC Acquires 15,726 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

PDT Partners LLC lifted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 14.3% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 125,532 shares of the company’s stock after purchasing an additional 15,726 shares during the quarter. PDT Partners LLC owned 0.07% of Alignment Healthcare worth $1,484,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALHC. Deerfield Management Company L.P. Series C increased its stake in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the period. Vanguard Group Inc. grew its holdings in shares of Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Hood River Capital Management LLC increased its position in shares of Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after purchasing an additional 185,854 shares during the period. William Blair Investment Management LLC raised its stake in Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Finally, Renaissance Technologies LLC lifted its position in Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total value of $85,695.61. Following the transaction, the chief financial officer now directly owns 399,429 shares of the company’s stock, valued at $3,998,284.29. The trade was a 2.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Hakan Kardes sold 35,000 shares of the stock in a transaction that occurred on Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total transaction of $448,000.00. Following the sale, the insider now directly owns 320,444 shares of the company’s stock, valued at $4,101,683.20. This represents a 9.85 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 543,433 shares of company stock worth $6,543,028. Company insiders own 6.60% of the company’s stock.

Wall Street Analyst Weigh In

ALHC has been the subject of several analyst reports. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. TD Cowen raised their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. KeyCorp initiated coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, UBS Group raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, six have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Price Performance

Shares of ALHC opened at $12.61 on Monday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $14.25. The business has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $9.77.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same quarter in the prior year, the firm posted ($0.19) earnings per share. The firm’s revenue was up 51.6% compared to the same quarter last year. Analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.