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:ALHCFree Report) 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.

Get Our Latest Stock Report on Alignment Healthcare

About Alignment Healthcare

(Free Report)

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.

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

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