Quantbot Technologies LP Takes $191,000 Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Quantbot Technologies LP acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHCFree Report) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 27,492 shares of the company’s stock, valued at approximately $191,000.

Other institutional investors also recently modified their holdings of the company. Durable Capital Partners LP boosted its position in Alignment Healthcare by 2,079.2% during the first 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 during the last quarter. Vanguard Group Inc. boosted its position in Alignment Healthcare by 25.1% during the third quarter. Vanguard Group Inc. now owns 8,117,393 shares of the company’s stock valued at $96,111,000 after acquiring an additional 1,626,831 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Alignment Healthcare by 15.1% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,470,181 shares of the company’s stock valued at $99,610,000 after acquiring an additional 1,108,973 shares during the last quarter. BlackRock Inc. boosted its position in Alignment Healthcare by 21.8% during the third quarter. BlackRock Inc. now owns 5,698,621 shares of the company’s stock valued at $67,471,000 after acquiring an additional 1,020,637 shares during the last quarter. Finally, Norges Bank bought a new stake in Alignment Healthcare during the fourth quarter valued at $11,601,000. Institutional investors own 85.58% of the company’s stock.

Alignment Healthcare Trading Up 0.9 %

ALHC opened at $6.73 on Friday. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.63 and a quick ratio of 1.63. Alignment Healthcare, Inc. has a fifty-two week low of $4.88 and a fifty-two week high of $11.31. The firm has a market capitalization of $1.27 billion, a PE ratio of -7.92 and a beta of 1.42. The company’s 50-day moving average is $7.76 and its 200 day moving average is $6.95.

Wall Street Analyst Weigh In

A number of brokerages have commented on ALHC. Raymond James upped their price target on shares of Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. UBS Group upped their price objective on shares of Alignment Healthcare from $6.50 to $9.00 and gave the company a “neutral” rating in a report on Thursday, December 21st. Stifel Nicolaus began coverage on shares of Alignment Healthcare in a report on Wednesday, January 24th. They set a “buy” rating and a $11.00 price objective on the stock. Bank of America lowered shares of Alignment Healthcare from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $7.50 to $7.25 in a report on Thursday, November 2nd. Finally, Stephens upped their price objective on shares of Alignment Healthcare from $10.00 to $10.50 and gave the company an “equal weight” rating in a report on Tuesday, January 9th. Four equities research analysts have rated the stock with a hold rating, five have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $10.70.

View Our Latest Report on ALHC

Alignment Healthcare Profile

(Free Report)

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.

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

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