First Trust Advisors LP Sells 95,014 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

First Trust Advisors LP lowered its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 15.5% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm 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 SEC filing.

A number of other large investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of Alignment Healthcare in the 4th quarter valued at about $55,000. Ballentine Partners LLC bought a new position in Alignment Healthcare in the fourth quarter valued at approximately $121,000. Aigen Investment Management LP bought a new position in shares of Alignment Healthcare in the fourth quarter worth about $129,000. AlphaQuest LLC acquired a new stake in Alignment Healthcare in the fourth quarter valued at approximately $132,000. Finally, TME Financial Inc. bought a new stake in Alignment Healthcare during the 4th quarter worth approximately $175,000. Institutional investors own 86.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on ALHC shares. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. UBS Group increased 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. Robert W. Baird lifted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. Finally, Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alignment Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $17.17.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Monday, April 14th. The stock was sold at an average price of $19.10, for a total value of $1,719,000.00. Following the sale, the chief executive officer now owns 2,003,100 shares in the company, valued at approximately $38,259,210. This trade represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now owns 1,576,097 shares in the company, valued at $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,181,855 shares of company stock valued at $35,166,057 over the last ninety days. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded down $1.24 during trading hours on Friday, reaching $15.53. 13,031,885 shares of the company's stock were exchanged, compared to its average volume of 1,812,743. The business has a fifty day moving average price of $17.27 and a 200-day moving average price of $14.29. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $3.07 billion, a P/E ratio of -20.17 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.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating 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 company had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. During the same period in the prior year, the company posted ($0.25) EPS. The company's revenue was up 47.5% compared to the same quarter last year. Analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

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.