8 Knots Management LLC Purchases 1,211,727 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

8 Knots Management LLC raised its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 49.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,658,695 shares of the company's stock after purchasing an additional 1,211,727 shares during the period. Alignment Healthcare makes up approximately 4.1% of 8 Knots Management LLC's investment portfolio, making the stock its 9th biggest position. 8 Knots Management LLC owned 1.91% of Alignment Healthcare worth $41,160,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of the business. R Squared Ltd bought a new position in Alignment Healthcare in the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare in the 4th quarter valued at $106,000. Tower Research Capital LLC TRC boosted its holdings in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after acquiring an additional 6,286 shares in the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the 4th quarter worth $121,000. Finally, Aigen Investment Management LP acquired a new position in Alignment Healthcare in the 4th quarter worth about $129,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Trading Up 1.0 %

NASDAQ:ALHC opened at $17.69 on Tuesday. The firm has a fifty day simple moving average of $17.01 and a two-hundred day simple moving average of $14.16. Alignment Healthcare, Inc. has a 12 month low of $5.02 and a 12 month high of $21.06. The stock has a market capitalization of $3.39 billion, a price-to-earnings ratio of -22.97 and a beta of 1.32. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Piper Sandler boosted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Robert W. Baird boosted their target price on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. raised their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, Stifel Nicolaus lifted their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.61.

Insider Activity

In other news, insider Andreas P. Wagner sold 14,878 shares of the business'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 owns 200,885 shares in the company, valued at $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total value of $1,280,700.00. Following the completion of the transaction, the chief executive officer now owns 2,183,100 shares in the company, valued at approximately $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,156,855 shares of company stock worth $34,744,307 in the last three months. Company 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.