Raymond James Financial Inc. Buys Shares of 157,273 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Raymond James Financial Inc. purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 157,273 shares of the company’s stock, valued at approximately $1,769,000.

Other large investors also recently modified their holdings of the company. Geode Capital Management LLC grew its position in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock valued at $28,875,000 after buying an additional 32,839 shares in the last quarter. State Street Corp lifted its stake in shares of Alignment Healthcare by 0.9% in the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock worth $26,622,000 after acquiring an additional 20,731 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in shares of Alignment Healthcare by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company’s stock worth $9,540,000 after acquiring an additional 8,279 shares during the period. Allspring Global Investments Holdings LLC boosted its holdings in shares of Alignment Healthcare by 1,672.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock valued at $7,591,000 after acquiring an additional 619,592 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after acquiring an additional 205,705 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $18.62 on Tuesday. The company’s fifty day moving average is $15.36 and its two-hundred day moving average is $13.06. The company has a market cap of $3.57 billion, a P/E ratio of -24.18 and a beta of 1.49. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $18.92. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Insider Activity

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the transaction, the chief executive officer now owns 2,273,100 shares in the company, valued at approximately $29,686,686. This represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dawn Christine Maroney sold 278,917 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $4,331,581.01. Following the completion of the sale, the president now owns 2,303,975 shares of the company’s stock, valued at approximately $35,780,731.75. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,956,855 shares of company stock worth $30,128,862. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on the company. Bank of America increased their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday, March 4th. Barclays raised their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus increased their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Company 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.