Algert Global LLC Raises Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Algert Global LLC grew its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 44.8% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 80,903 shares of the company’s stock after purchasing an additional 25,050 shares during the quarter. Algert Global LLC’s holdings in Alignment Healthcare were worth $956,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Virtu Financial LLC bought a new position in Alignment Healthcare in the first quarter worth about $57,000. nVerses Capital LLC bought a new position in shares of Alignment Healthcare in the 3rd quarter worth approximately $95,000. Principal Financial Group Inc. lifted its stake in shares of Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after purchasing an additional 2,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $131,000. Finally, Creative Planning grew its stake in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Down 1.7 %

Alignment Healthcare stock opened at $12.61 on Friday. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $14.25. The business’s fifty day moving average is $11.81 and its 200 day moving average is $9.75. The stock has a market capitalization of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. 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 (NASDAQ:ALHC) last announced its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. During the same quarter last year, the firm posted ($0.19) EPS. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, sell-side analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

Several brokerages have commented on ALHC. Barclays raised their price objective on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. UBS Group upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 30th. Robert W. Baird lifted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. TD Cowen increased their target price on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research note on Tuesday, August 6th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $10.33.

Insiders Place Their Bets

In other Alignment Healthcare news, Director Joseph S. Konowiecki sold 6,920 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the transaction, the director now owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. This represents a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Hakan Kardes sold 35,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The shares were sold at an average price of $12.80, for a total value of $448,000.00. Following the sale, the insider now owns 320,444 shares of the company’s stock, valued at approximately $4,101,683.20. This represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 543,433 shares of company stock valued at $6,543,028. Company insiders own 6.60% of the company’s stock.

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.