Norges Bank Invests $3.39 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Norges Bank acquired a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 4th quarter, HoldingsChannel.com reports. The institutional investor acquired 300,957 shares of the company’s stock, valued at approximately $3,386,000.

Other large investors also recently bought and sold shares of the company. Caisse Des Depots ET Consignations bought a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $2,243,000. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after purchasing an additional 166,837 shares during the period. Simplify Asset Management Inc. bought a new stake in shares of Alignment Healthcare in the 4th quarter worth approximately $1,494,000. KLP Kapitalforvaltning AS acquired a new stake in Alignment Healthcare in the fourth quarter worth $194,000. Finally, Sei Investments Co. acquired a new position in shares of Alignment Healthcare during the fourth quarter worth approximately $944,000. Institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on ALHC shares. JPMorgan Chase & Co. lifted their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday. Bank of America lifted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Piper Sandler upped their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Finally, Barclays lifted their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $15.39.

Insider Activity at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $3,895,000.00. Following the completion of the sale, the chief financial officer now directly owns 1,635,849 shares in the company, valued at approximately $25,486,527.42. The trade was a 13.26 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,981,855 shares of company stock valued at $30,590,612. 6.60% of the stock is currently owned by corporate insiders.

Alignment Healthcare Stock Up 6.7 %

ALHC opened at $19.78 on Friday. The company has a market capitalization of $3.79 billion, a PE ratio of -25.69 and a beta of 1.32. The business has a 50-day moving average of $16.05 and a 200-day moving average of $13.53. Alignment Healthcare, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

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.