First Trust Advisors LP Lowers Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

First Trust Advisors LP cut its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 15.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 516,627 shares of the company's stock after selling 95,014 shares during the quarter. First Trust Advisors LP owned 0.27% of Alignment Healthcare worth $5,812,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also bought and sold shares of ALHC. Barclays PLC increased its position 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 purchasing an additional 114,191 shares during the last quarter. Principal Financial Group Inc. grew its position in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after acquiring an additional 180,522 shares during the last quarter. 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 acquiring an additional 205,705 shares during the last quarter. Ballentine Partners LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter worth approximately $121,000. Finally, SG Americas Securities LLC lifted its holdings in shares of Alignment Healthcare by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock worth $554,000 after acquiring an additional 5,163 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the company's 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 sale, the chief executive officer now directly owns 2,183,100 shares of the company's stock, valued at $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the completion of the transaction, the insider now owns 200,885 shares of the company's stock, valued at approximately $2,888,726.30. This trade represents a 6.90 % decrease in their position. 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 90 days. 6.60% of the stock is owned by company insiders.

Analyst Ratings Changes

Several research firms recently commented on ALHC. Barclays increased their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Stephens reissued an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Robert W. Baird raised their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, UBS Group boosted their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday. One 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 stock. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare Trading Up 0.0 %

Shares of ALHC stock traded up $0.01 during trading hours on Tuesday, reaching $15.49. The company's stock had a trading volume of 288,160 shares, compared to its average volume of 1,811,595. 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, Inc. has a one year low of $6.37 and a one year high of $21.06. The stock has a market capitalization of $3.06 billion, a P/E ratio of -20.09 and a beta of 1.32. The firm's fifty day simple moving average is $17.32 and its 200 day simple moving average is $14.34.

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

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.