Teacher Retirement System of Texas Sells 33,657 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Teacher Retirement System of Texas cut its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHCFree Report) by 53.4% during the 4th quarter, Holdings Channel reports. The firm owned 29,350 shares of the company’s stock after selling 33,657 shares during the period. Teacher Retirement System of Texas’ holdings in Alignment Healthcare were worth $253,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ALHC. Barlow Wealth Partners Inc. purchased a new stake in Alignment Healthcare in the 4th quarter worth approximately $100,000. Victory Capital Management Inc. raised its holdings in shares of Alignment Healthcare by 17.9% during the fourth quarter. Victory Capital Management Inc. now owns 12,935 shares of the company’s stock valued at $111,000 after acquiring an additional 1,962 shares in the last quarter. Teza Capital Management LLC purchased a new stake in Alignment Healthcare in the third quarter worth $109,000. Aigen Investment Management LP bought a new stake in Alignment Healthcare in the third quarter valued at $116,000. Finally, Dark Forest Capital Management LP purchased a new position in Alignment Healthcare during the 3rd quarter valued at $187,000. 86.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ALHC. Piper Sandler raised shares of Alignment Healthcare from a “neutral” rating to an “overweight” rating and lifted their target price for the company from $6.00 to $8.00 in a research note on Wednesday, May 8th. Stephens upped their target price on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, May 3rd. Barclays assumed coverage on Alignment Healthcare in a research note on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 target price for the company. Stifel Nicolaus reduced their price target on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research note on Tuesday, April 23rd. Finally, UBS Group lowered their price objective on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating for the company in a research report on Wednesday, February 28th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $8.69.

Check Out Our Latest Report on Alignment Healthcare

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $6.98 on Thursday. The business’s fifty day moving average is $5.73 and its 200 day moving average is $6.58. The company has a market capitalization of $1.33 billion, a PE ratio of -8.31 and a beta of 1.23. The company has a debt-to-equity ratio of 1.23, a quick ratio of 1.57 and a current ratio of 1.57. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $9.20.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.25) EPS for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The firm had revenue of $628.60 million for the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. Alignment Healthcare’s revenue was up 43.1% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.20) EPS. Sell-side analysts predict that Alignment Healthcare, Inc. will post -0.65 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO John E. Kao acquired 103,000 shares of Alignment Healthcare stock in a transaction on Thursday, March 14th. The shares were acquired at an average price of $4.82 per share, with a total value of $496,460.00. Following the purchase, the chief executive officer now directly owns 2,745,253 shares in the company, valued at approximately $13,232,119.46. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CFO Robert Thomas Freeman sold 28,522 shares of the company’s stock in a transaction dated Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total transaction of $144,036.10. Following the sale, the chief financial officer now directly owns 869,706 shares in the company, valued at approximately $4,392,015.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao purchased 103,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The stock was bought at an average price of $4.82 per share, with a total value of $496,460.00. Following the transaction, the chief executive officer now owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The disclosure for this purchase can be found here. Over the last quarter, insiders sold 90,213 shares of company stock worth $460,587. 6.60% of the stock is owned by insiders.

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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