Jump Financial LLC Acquires New Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Jump Financial LLC bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 66,800 shares of the company’s stock, valued at approximately $575,000.

Other hedge funds also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C raised its stake in shares of Alignment Healthcare by 49.1% in the third quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock valued at $19,064,000 after acquiring an additional 905,015 shares in the last quarter. William Blair Investment Management LLC boosted its stake 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 valued at $13,279,000 after buying an additional 544,196 shares during the period. Vanguard Group Inc. grew its position in shares of Alignment Healthcare by 3.7% during the third 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 in the last quarter. Rhenman & Partners Asset Management AB increased its stake in shares of Alignment Healthcare by 20.0% during the third 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, Capula Management Ltd acquired a new stake in Alignment Healthcare in the third quarter valued at approximately $1,216,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on ALHC shares. UBS Group dropped their price objective on shares of Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a research report on Wednesday, February 28th. Stephens raised their price target on Alignment Healthcare from $6.00 to $7.00 and gave the company an “equal weight” rating in a research note on Friday, May 3rd. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Piper Sandler raised Alignment Healthcare from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $6.00 to $8.00 in a research report on Wednesday, May 8th. Finally, Stifel Nicolaus lowered their price target on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a report on Tuesday, April 23rd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $8.69.

Insider Buying and Selling at Alignment Healthcare

In related news, CEO John E. Kao purchased 103,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 14th. The stock was purchased at an average cost of $4.82 per share, with a total value of $496,460.00. Following the completion of the acquisition, the chief executive officer now directly owns 2,745,253 shares in the company, valued at $13,232,119.46. The acquisition was disclosed in a document filed with the SEC, which is accessible through this link. In other news, 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 transaction 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 approximately $4,392,334.92. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John E. Kao acquired 103,000 shares of the company’s stock in a transaction that occurred on Thursday, March 14th. The shares were acquired at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the acquisition, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at $13,232,119.46. The disclosure for this purchase can be found here. Insiders sold a total of 90,213 shares of company stock valued at $460,587 in the last ninety days. Insiders own 6.30% of the company’s stock.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $7.45 on Wednesday. The company has a current ratio of 1.57, a quick ratio of 1.57 and a debt-to-equity ratio of 1.23. The stock has a market cap of $1.42 billion, a P/E ratio of -8.87 and a beta of 1.23. The stock has a 50 day moving average of $5.45 and a two-hundred day moving average of $6.54. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $9.20.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 2nd. The company reported ($0.25) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.24) by ($0.01). Alignment Healthcare had a negative return on equity of 91.06% and a negative net margin of 7.81%. The business had revenue of $628.60 million for the quarter, compared to analysts’ expectations of $599.75 million. During the same period in the previous year, the business posted ($0.20) earnings per share. The company’s revenue for the quarter was up 43.1% on a year-over-year basis. On average, research analysts forecast that Alignment Healthcare, Inc. will post -0.64 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 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.