Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Purchased by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 123.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 36,236 shares of the company’s stock after buying an additional 20,030 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alignment Healthcare were worth $312,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of ALHC. Vanguard Group Inc. raised its position in shares of Alignment Healthcare by 3.7% in the 3rd quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock worth $63,303,000 after buying an additional 322,661 shares during the period. Deerfield Management Company L.P. Series C raised its position in shares of Alignment Healthcare by 49.1% in the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock worth $19,064,000 after buying an additional 905,015 shares during the period. William Blair Investment Management LLC raised its position in shares of Alignment Healthcare by 39.7% in the 3rd quarter. William Blair Investment Management LLC now owns 1,913,459 shares of the company’s stock worth $13,279,000 after buying an additional 544,196 shares during the period. Rhenman & Partners Asset Management AB raised its position in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the company’s stock worth $8,328,000 after buying an additional 200,000 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Alignment Healthcare by 10.4% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 741,186 shares of the company’s stock worth $5,144,000 after buying an additional 69,565 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Activity

In related news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the transaction, the insider now directly owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Dawn Christine Maroney sold 23,000 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the transaction, the insider now directly owns 1,830,008 shares of the company’s stock, valued at approximately $9,955,243.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 11,858 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $4.89, for a total value of $57,985.62. Following the completion of the transaction, the chief financial officer now directly owns 898,228 shares of the company’s stock, valued at $4,392,334.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 90,213 shares of company stock valued at $460,587. 6.30% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several research firms have commented on ALHC. Stifel Nicolaus cut their price objective on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating on the stock in a research report on Tuesday. Piper Sandler reissued a “neutral” rating and issued a $6.00 price objective (down from $12.00) on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Barclays began coverage on Alignment Healthcare in a research report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 price objective on the stock. Raymond James raised their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the company a “strong-buy” rating in a research report on Tuesday, January 9th. Finally, William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $9.18.

Alignment Healthcare Stock Up 1.0 %

NASDAQ:ALHC opened at $5.21 on Friday. The firm has a market capitalization of $984.59 million, a PE ratio of -6.59 and a beta of 1.30. The stock has a 50 day moving average of $5.22 and a 200-day moving average of $6.60. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $9.20. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, February 27th. The company reported ($0.25) EPS for the quarter, missing the consensus estimate of ($0.22) by ($0.03). The company had revenue of $465.39 million for the quarter, compared to the consensus estimate of $444.56 million. Alignment Healthcare had a negative net margin of 8.12% and a negative return on equity of 75.64%. The firm’s revenue for the quarter was up 28.6% compared to the same quarter last year. During the same period last year, the company posted ($0.31) earnings per share. Analysts predict that Alignment Healthcare, Inc. will post -0.6 EPS for the current year.

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.