Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Acquired by Strs Ohio

Strs Ohio lifted its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHCGet Rating) by 56.2% during the 3rd quarter, HoldingsChannel.com reports. The fund owned 31,400 shares of the company’s stock after acquiring an additional 11,300 shares during the quarter. Strs Ohio’s holdings in Alignment Healthcare were worth $371,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also made changes to their positions in ALHC. Durable Capital Partners LP raised its position in shares of Alignment Healthcare by 2,079.2% during the 1st quarter. Durable Capital Partners LP now owns 5,908,220 shares of the company’s stock valued at $66,349,000 after acquiring an additional 5,637,102 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Alignment Healthcare by 2.8% during the second quarter. Price T Rowe Associates Inc. MD now owns 8,805,887 shares of the company’s stock worth $100,475,000 after acquiring an additional 236,652 shares during the last quarter. Bank of America Corp DE increased its holdings in shares of Alignment Healthcare by 62.9% in the 1st quarter. Bank of America Corp DE now owns 421,968 shares of the company’s stock worth $4,739,000 after acquiring an additional 162,950 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new position in Alignment Healthcare during the 2nd quarter valued at about $1,461,000. Finally, Ronald Blue Trust Inc. acquired a new position in Alignment Healthcare during the 2nd quarter valued at about $1,390,000. 83.49% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Down 0.3 %

ALHC stock opened at $12.03 on Friday. Alignment Healthcare, Inc. has a 52 week low of $6.14 and a 52 week high of $19.17. The company has a market capitalization of $2.25 billion, a price-to-earnings ratio of -15.42 and a beta of 1.85. The firm’s 50-day moving average is $11.98 and its two-hundred day moving average is $13.21. The company has a current ratio of 2.03, a quick ratio of 2.03 and a debt-to-equity ratio of 0.59.

Alignment Healthcare (NASDAQ:ALHCGet Rating) last released its quarterly earnings results on Thursday, November 3rd. The company reported ($0.22) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.03. Alignment Healthcare had a negative net margin of 10.25% and a negative return on equity of 48.22%. The company had revenue of $360.35 million for the quarter, compared to the consensus estimate of $333.65 million. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.81 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 24,000 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $13.08, for a total transaction of $313,920.00. Following the sale, the chief financial officer now directly owns 568,529 shares in the company, valued at approximately $7,436,359.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 24,000 shares of the business’s stock in a transaction dated Wednesday, October 26th. The shares were sold at an average price of $13.08, for a total transaction of $313,920.00. Following the sale, the chief financial officer now directly owns 568,529 shares in the company, valued at approximately $7,436,359.32. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Dawn Christine Maroney sold 5,000 shares of the business’s stock in a transaction dated Tuesday, January 17th. The stock was sold at an average price of $12.54, for a total transaction of $62,700.00. Following the sale, the insider now owns 1,965,692 shares in the company, valued at $24,649,777.68. The disclosure for this sale can be found here. In the last three months, insiders have sold 227,000 shares of company stock worth $2,968,167. 5.70% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Separately, Raymond James lowered shares of Alignment Healthcare from an “outperform” rating to a “market perform” rating in a research note on Monday, November 21st. Two research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $18.22.

About Alignment Healthcare

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Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, Nevada, and Arizona.

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Institutional Ownership by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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