Assenagon Asset Management S.A. Boosts Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Assenagon Asset Management S.A. lifted its position in Alignment Healthcare, Inc. (NASDAQ:ALHCFree Report) by 9.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 543,197 shares of the company’s stock after purchasing an additional 46,747 shares during the quarter. Assenagon Asset Management S.A. owned 0.29% of Alignment Healthcare worth $3,770,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Price T Rowe Associates Inc. MD boosted its holdings in Alignment Healthcare by 2.8% during the 2nd quarter. Price T Rowe Associates Inc. MD now owns 8,805,887 shares of the company’s stock valued at $100,475,000 after acquiring an additional 236,652 shares during the period. T. Rowe Price Investment Management Inc. boosted its holdings in Alignment Healthcare by 15.1% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,470,181 shares of the company’s stock valued at $99,610,000 after acquiring an additional 1,108,973 shares during the period. Vanguard Group Inc. boosted its holdings in Alignment Healthcare by 25.1% during the 3rd quarter. Vanguard Group Inc. now owns 8,117,393 shares of the company’s stock valued at $96,111,000 after acquiring an additional 1,626,831 shares during the period. Durable Capital Partners LP lifted its holdings in Alignment Healthcare by 2,079.2% in the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock worth $66,349,000 after buying an additional 5,637,102 shares during the period. Finally, BlackRock Inc. lifted its holdings in Alignment Healthcare by 21.8% in the 3rd quarter. BlackRock Inc. now owns 5,698,621 shares of the company’s stock worth $67,471,000 after buying an additional 1,020,637 shares during the period. 85.58% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Alignment Healthcare

In related news, Chairman Joseph S. Konowiecki sold 4,898 shares of the firm’s stock in a transaction that occurred on Friday, November 10th. The stock was sold at an average price of $5.90, for a total transaction of $28,898.20. Following the completion of the transaction, the chairman now owns 1,188,221 shares of the company’s stock, valued at approximately $7,010,503.90. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Insiders sold a total of 7,298 shares of company stock valued at $48,650 in the last 90 days. Corporate insiders own 6.30% of the company’s stock.

Alignment Healthcare Stock Down 2.5 %

Shares of NASDAQ:ALHC opened at $6.70 on Thursday. Alignment Healthcare, Inc. has a 52-week low of $4.88 and a 52-week high of $12.60. The firm has a market capitalization of $1.27 billion, a P/E ratio of -7.88 and a beta of 1.44. The stock has a 50 day moving average price of $7.89 and a 200-day moving average price of $6.92. The company has a debt-to-equity ratio of 0.85, a quick ratio of 1.63 and a current ratio of 1.63.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last posted its quarterly earnings data on Thursday, November 2nd. The company reported ($0.19) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.19). Alignment Healthcare had a negative return on equity of 73.02% and a negative net margin of 9.17%. The company had revenue of $456.71 million during the quarter, compared to analyst estimates of $443.39 million. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.76 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on ALHC. UBS Group increased their price objective on Alignment Healthcare from $6.50 to $9.00 and gave the stock a “neutral” rating in a report on Thursday, December 21st. Raymond James increased their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a report on Tuesday, January 9th. Stifel Nicolaus began coverage on Alignment Healthcare in a report on Wednesday, January 24th. They issued a “buy” rating and a $11.00 price objective for the company. Stephens increased their price objective on Alignment Healthcare from $10.00 to $10.50 and gave the stock an “equal weight” rating in a report on Tuesday, January 9th. Finally, Bank of America cut Alignment Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $7.50 to $7.25 in a report on Thursday, November 2nd. Four research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $10.70.

Get Our Latest Stock Report on ALHC

About Alignment Healthcare

(Free Report)

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, Nevada, Arizona, Florida, and Texas.

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Institutional Ownership by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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