Raymond James Financial Inc. Buys New Shares in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Raymond James Financial Inc. bought a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund 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 filing with the Securities and Exchange Commission.

Several other institutional investors have also recently added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Alignment Healthcare during the fourth quarter worth $55,000. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare in the 4th quarter worth approximately $121,000. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $129,000. AlphaQuest LLC acquired a new position in Alignment Healthcare during the 4th quarter valued at about $132,000. Finally, Proficio Capital Partners LLC bought a new stake in shares of Alignment Healthcare during the fourth quarter valued at approximately $184,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 6,694 shares of the stock in a transaction dated Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares in the company, valued at $4,106,199.20. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO John E. Kao sold 554,713 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the completion of the transaction, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at $73,513,801.92. The trade was a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 2,181,855 shares of company stock worth $35,166,057 over the last ninety days. Insiders own 6.60% of the company's stock.

Alignment Healthcare Trading Down 1.3 %

NASDAQ:ALHC traded down $0.20 on Wednesday, reaching $15.52. The company's stock had a trading volume of 1,939,476 shares, compared to its average volume of 1,824,886. Alignment Healthcare, Inc. has a 1-year low of $6.66 and a 1-year high of $21.06. The business's 50-day moving average price is $17.36 and its two-hundred day moving average price is $14.36. The firm has a market cap of $3.07 billion, a PE ratio of -20.16 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. During the same period last year, the company posted ($0.25) EPS. The business's quarterly revenue was up 47.5% on a year-over-year basis. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of analysts recently commented on ALHC shares. Stephens reiterated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Robert W. Baird lifted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, UBS Group raised their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $17.17.

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.