Strs Ohio Sells 11,800 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Strs Ohio cut its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 13.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 73,900 shares of the company’s stock after selling 11,800 shares during the period. Strs Ohio’s holdings in Alignment Healthcare were worth $636,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Swiss National Bank raised its stake in shares of Alignment Healthcare by 1.6% during the third quarter. Swiss National Bank now owns 227,800 shares of the company’s stock worth $1,581,000 after buying an additional 3,500 shares during the last quarter. Versor Investments LP raised its stake in shares of Alignment Healthcare by 14.1% during the third quarter. Versor Investments LP now owns 51,100 shares of the company’s stock worth $355,000 after buying an additional 6,300 shares during the last quarter. Mackenzie Financial Corp raised its stake in shares of Alignment Healthcare by 38.1% during the third quarter. Mackenzie Financial Corp now owns 31,069 shares of the company’s stock worth $218,000 after buying an additional 8,577 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Alignment Healthcare by 75.5% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock worth $183,000 after buying an additional 11,370 shares during the last quarter. Finally, Teza Capital Management LLC bought a new stake in shares of Alignment Healthcare during the third quarter worth approximately $109,000. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Stock Up 1.0 %

Alignment Healthcare stock opened at $5.21 on Friday. The stock has a market capitalization of $984.59 million, a PE ratio of -6.59 and a beta of 1.30. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $9.20. The company has a quick ratio of 1.84, a current ratio of 1.84 and a debt-to-equity ratio of 1.02. The company has a 50 day moving average of $5.22 and a 200-day moving average of $6.60.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The company had revenue of $465.39 million during the quarter, compared to analyst estimates of $444.56 million. During the same quarter last year, the company earned ($0.31) EPS. The firm’s quarterly revenue was up 28.6% compared to the same quarter last year. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.6 EPS for the current fiscal year.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao bought 103,000 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 14th. The stock was acquired at an average price of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the acquisition, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 11,858 shares of the company’s stock in a transaction on Friday, March 15th. The shares were sold at an average price of $4.89, for a total transaction of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao purchased 103,000 shares of the company’s stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. Over the last 90 days, insiders sold 90,213 shares of company stock worth $460,587. 6.30% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on ALHC shares. UBS Group dropped their price target on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research note on Wednesday, February 28th. Raymond James boosted their price objective on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a report on Tuesday, January 9th. Stephens boosted their price objective on shares of Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Piper Sandler restated a “neutral” rating and set a $6.00 price objective (down previously from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $9.18.

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.