Raymond James Financial Inc. Invests $1.77 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Raymond James Financial Inc. bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor bought 157,273 shares of the company's stock, valued at approximately $1,769,000. Raymond James Financial Inc. owned 0.08% of Alignment Healthcare as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its stake in shares of Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock worth $3,407,000 after acquiring an additional 205,705 shares in the last quarter. Principal Financial Group Inc. increased its holdings in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock worth $2,294,000 after purchasing an additional 180,522 shares during the period. Barclays PLC increased its holdings in Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after purchasing an additional 114,191 shares during the period. US Bancorp DE raised its position in Alignment Healthcare by 6,544.2% in the 4th quarter. US Bancorp DE now owns 98,932 shares of the company's stock valued at $1,113,000 after purchasing an additional 97,443 shares in the last quarter. Finally, Franklin Resources Inc. purchased a new position in shares of Alignment Healthcare in the 4th quarter valued at about $732,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of recent research reports. Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. UBS Group increased their target price on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday. Barclays lifted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Finally, Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC traded down $0.05 during trading hours on Monday, reaching $15.48. The stock had a trading volume of 2,990,640 shares, compared to its average volume of 1,817,456. The firm has a market cap of $3.06 billion, a price-to-earnings ratio of -20.10 and a beta of 1.32. Alignment Healthcare, Inc. has a fifty-two week low of $6.37 and a fifty-two week high of $21.06. The firm has a 50-day moving average of $17.27 and a 200-day moving average of $14.31. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same period last year, the firm posted ($0.25) earnings per share. The company's revenue for the quarter was up 47.5% compared to the same quarter last year. Equities research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the company's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the completion of the sale, the insider now directly owns 200,885 shares of the company's stock, valued at $2,888,726.30. This represents a 6.90 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the insider now owns 390,022 shares in the company, valued at $6,579,671.14. This trade represents a 6.02 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,181,855 shares of company stock valued at $35,166,057. Insiders own 6.60% of the company's stock.

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.