AlphaQuest LLC Buys Shares of 11,733 Alignment Healthcare, Inc. (NASDAQ:ALHC)

AlphaQuest LLC bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm bought 11,733 shares of the company’s stock, valued at approximately $132,000.

A number of other institutional investors also recently modified their holdings of ALHC. Allspring Global Investments Holdings LLC boosted its stake in shares of Alignment Healthcare by 1,672.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock valued at $7,591,000 after buying an additional 619,592 shares during the period. Royce & Associates LP acquired a new stake in shares of Alignment Healthcare during the 3rd quarter valued at $3,782,000. JPMorgan Chase & Co. boosted its stake in shares of Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after buying an additional 205,705 shares during the period. Principal Financial Group Inc. boosted its stake in shares of Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares during the period. Finally, Raymond James Financial Inc. acquired a new stake in shares of Alignment Healthcare during the 4th quarter valued at $1,769,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now owns 2,273,100 shares in the company, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the transaction, the president now owns 1,606,097 shares in the company, valued at approximately $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,829,454 shares of company stock worth $27,936,991 in the last quarter. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $16.09 on Tuesday. The company has a market capitalization of $3.09 billion, a PE ratio of -20.90 and a beta of 1.49. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $16.26. 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 company’s fifty day moving average price is $14.48 and its 200 day moving average price is $12.51.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ALHC shares. Stephens reaffirmed an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Stifel Nicolaus lifted their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Finally, Bank of America lifted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.