By otakuyassine3@gmail.com 
KLP Kapitalforvaltning AS purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC – Free Report) during the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 17,200 shares of the company’s stock, valued at approximately $194,000.
A number of other hedge funds have also recently added to or reduced their stakes in ALHC. JPMorgan Chase & Co. raised its position in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after purchasing an additional 205,705 shares during the period. Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares during the last quarter. The Manufacturers Life Insurance Company lifted its stake in shares of Alignment Healthcare by 132.2% in the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after buying an additional 73,402 shares in the last quarter. Barclays PLC grew its holdings in shares of Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after buying an additional 114,191 shares during the last quarter. Finally, US Bancorp DE increased its position in shares of Alignment Healthcare by 6,544.2% during the fourth quarter. US Bancorp DE now owns 98,932 shares of the company’s stock worth $1,113,000 after acquiring an additional 97,443 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.
Insiders Place Their Bets
In other news, insider Robert L. Scavo sold 2,864 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the completion of the sale, the insider now owns 702,953 shares in the company, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,981,855 shares of company stock valued at $30,590,612. Company insiders own 6.60% of the company’s stock.
Analysts Set New Price Targets
ALHC has been the topic of several recent research reports. Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Stifel Nicolaus raised their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $14.83.
View Our Latest Stock Analysis on ALHC
Alignment Healthcare Trading Down 1.6 %
NASDAQ ALHC opened at $17.82 on Tuesday. The stock has a market capitalization of $3.42 billion, a price-to-earnings ratio of -23.14 and a beta of 1.32. The business’s fifty day moving average is $15.69 and its 200-day moving average is $13.29. 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, Inc. has a one year low of $4.62 and a one year high of $18.97.
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.
See Also
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