Balyasny Asset Management L.P. Makes New Investment in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Balyasny Asset Management L.P. purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,138 shares of the company’s stock, valued at approximately $542,000.

Other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $106,000. Tower Research Capital LLC TRC grew its stake in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter worth $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Activity

In other news, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the sale, the president now directly owns 1,576,097 shares of the company’s stock, valued at approximately $21,624,050.84. This represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, May 12th. The stock was sold at an average price of $14.84, for a total transaction of $1,335,600.00. Following the transaction, the chief executive officer now owns 1,913,100 shares in the company, valued at approximately $28,390,404. This trade represents a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,196,977 shares of company stock valued at $35,453,111. Insiders own 7.00% of the company’s stock.

Alignment Healthcare Price Performance

Shares of ALHC opened at $14.90 on Friday. The firm has a fifty day moving average price of $17.30 and a 200 day moving average price of $14.53. Alignment Healthcare, Inc. has a 1-year low of $6.82 and a 1-year high of $21.06. 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 stock has a market cap of $2.95 billion, a PE ratio of -19.35 and a beta of 1.32.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $926.93 million during the quarter, compared to analysts’ expectations of $889.83 million. During the same period in the prior year, the company earned ($0.25) earnings per share. The business’s revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Barclays boosted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. boosted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, April 8th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

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.