Intech Investment Management LLC Purchases 17,350 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Intech Investment Management LLC grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 65.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 44,018 shares of the company’s stock after acquiring an additional 17,350 shares during the quarter. Intech Investment Management LLC’s holdings in Alignment Healthcare were worth $495,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. William Blair Investment Management LLC grew its position in shares of Alignment Healthcare by 50.7% during the 4th quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company’s stock worth $33,442,000 after purchasing an additional 999,940 shares in the last quarter. Allspring Global Investments Holdings LLC boosted its stake in shares of Alignment Healthcare by 1,672.5% in the fourth 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 grew its position in Alignment Healthcare by 144.3% during the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company’s stock worth $8,794,000 after buying an additional 461,680 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after acquiring an additional 205,705 shares during the period. Finally, Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Price Performance

Shares of ALHC opened at $17.46 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market cap of $3.35 billion, a PE ratio of -22.68 and a beta of 1.49. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $17.76. The business has a 50-day simple moving average of $14.98 and a two-hundred day simple moving average of $12.78.

Insider Activity

In related news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the sale, the president now directly owns 1,606,097 shares in the company, valued at $21,858,980.17. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Andreas P. Wagner sold 14,878 shares of Alignment Healthcare stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the transaction, the insider now directly owns 200,885 shares in the company, valued at $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,901,665 shares of company stock valued at $29,141,513 over the last quarter. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently commented on ALHC. JPMorgan Chase & Co. boosted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. Stephens reissued an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Barclays lifted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Company 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.