Integral Health Asset Management LLC Makes New Investment in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Integral Health Asset Management LLC bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 500,000 shares of the company's stock, valued at approximately $5,625,000. Integral Health Asset Management LLC owned 0.26% of Alignment Healthcare at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the stock. JPMorgan Chase & Co. grew its position in 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 purchasing an additional 205,705 shares in the last quarter. Barclays PLC boosted its stake in shares of Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after buying an additional 114,191 shares during the period. US Bancorp DE grew its holdings in shares of Alignment Healthcare by 6,544.2% during the 4th quarter. US Bancorp DE now owns 98,932 shares of the company's stock valued at $1,113,000 after acquiring an additional 97,443 shares in the last quarter. Franklin Resources Inc. acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $732,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $184,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Stephens reiterated an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. JPMorgan Chase & Co. boosted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, Robert W. Baird lifted their target price 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $17.17.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded down $0.01 during trading on Thursday, reaching $14.90. The company had a trading volume of 3,020,596 shares, compared to its average volume of 1,863,046. The firm's 50 day simple moving average is $17.30 and its two-hundred day simple moving average is $14.51. Alignment Healthcare, Inc. has a one year low of $6.82 and a one year high of $21.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market capitalization of $2.95 billion, a PE ratio of -19.35 and a beta of 1.32.

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

Insiders Place Their Bets

In other Alignment Healthcare news, insider Robert L. Scavo sold 55,403 shares of the stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $860,408.59. Following the completion of the sale, the insider now directly owns 673,419 shares of the company's stock, valued at $10,458,197.07. This represents a 7.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Dawn Christine Maroney sold 230,000 shares of the firm's stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the sale, the president now owns 2,132,899 shares in the company, valued at $40,738,370.90. This represents a 9.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,196,977 shares of company stock valued at $35,453,111 in the last quarter. Insiders own 7.00% of the company's stock.

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.