Hood River Capital Management LLC Buys 301,486 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Hood River Capital Management LLC boosted its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 13.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,478,273 shares of the company’s stock after acquiring an additional 301,486 shares during the quarter. Hood River Capital Management LLC owned 1.32% of Alignment Healthcare worth $15,762,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Arizona State Retirement System boosted its position in Alignment Healthcare by 3.8% in the fourth quarter. Arizona State Retirement System now owns 23,778 shares of the company’s stock valued at $280,000 after buying an additional 879 shares in the last quarter. Principal Financial Group Inc. lifted its holdings in Alignment Healthcare by 7.7% in the first quarter. Principal Financial Group Inc. now owns 14,524 shares of the company’s stock valued at $163,000 after buying an additional 1,034 shares during the period. Legal & General Group Plc lifted its holdings in Alignment Healthcare by 1.5% in the fourth quarter. Legal & General Group Plc now owns 71,676 shares of the company’s stock valued at $843,000 after buying an additional 1,066 shares during the period. Cubist Systematic Strategies LLC increased its stake in Alignment Healthcare by 5.4% in the second quarter. Cubist Systematic Strategies LLC now owns 32,579 shares of the company’s stock valued at $372,000 after purchasing an additional 1,658 shares in the last quarter. Finally, Panagora Asset Management Inc. increased its stake in Alignment Healthcare by 0.5% in the first quarter. Panagora Asset Management Inc. now owns 340,034 shares of the company’s stock valued at $2,163,000 after purchasing an additional 1,766 shares in the last quarter. Institutional investors own 85.58% of the company’s stock.

Analyst Ratings Changes

Several brokerages have commented on ALHC. Morgan Stanley lowered their target price on shares of Alignment Healthcare from $19.00 to $12.00 and set an “overweight” rating for the company in a research note on Wednesday, August 30th. JPMorgan Chase & Co. lowered their price objective on shares of Alignment Healthcare from $12.00 to $10.00 in a research report on Friday, July 7th. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $10.63.

Alignment Healthcare Stock Down 7.2 %

Alignment Healthcare stock traded down $0.40 during mid-day trading on Friday, reaching $5.18. The company’s stock had a trading volume of 426,789 shares, compared to its average volume of 385,949. The company has a market capitalization of $975.91 million, a price-to-earnings ratio of -5.89 and a beta of 1.62. Alignment Healthcare, Inc. has a 12 month low of $4.88 and a 12 month high of $16.63. The business’s 50 day simple moving average is $5.94 and its 200 day simple moving average is $6.40. The company has a debt-to-equity ratio of 0.76, a quick ratio of 1.70 and a current ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, August 3rd. The company reported ($0.15) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.21) by $0.06. The business had revenue of $462.38 million during the quarter, compared to the consensus estimate of $436.88 million. Alignment Healthcare had a negative net margin of 10.03% and a negative return on equity of 68.85%. As a group, research analysts anticipate that Alignment Healthcare, Inc. will post -0.76 earnings per share for the current year.

Alignment Healthcare Profile

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, Arizona, Florida, and Texas.