Fmr LLC Sells 539,119 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

FMR LLC lowered its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 3.2% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 16,448,230 shares of the company's stock after selling 539,119 shares during the period. FMR LLC owned 8.58% of Alignment Healthcare worth $185,043,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. JPMorgan Chase & Co. grew its holdings in Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock worth $3,407,000 after acquiring an additional 205,705 shares during the period. Principal Financial Group Inc. grew its stake 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 worth $2,294,000 after purchasing an additional 180,522 shares during the period. US Bancorp DE increased its holdings in Alignment Healthcare by 6,544.2% in the fourth quarter. US Bancorp DE now owns 98,932 shares of the company's stock worth $1,113,000 after purchasing an additional 97,443 shares in the last quarter. Barclays PLC lifted its stake in Alignment Healthcare by 144.1% in the third 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. Finally, Proficio Capital Partners LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $184,000. 86.19% of the stock is owned by institutional investors.

Insider Transactions at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 230,000 shares of the company'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 transaction, the president now owns 2,132,899 shares of the company's stock, valued at $40,738,370.90. This represents a 9.73 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,003,100 shares of the company's stock, valued at approximately $38,259,210. This trade represents a 4.30 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,181,855 shares of company stock worth $35,118,912 in the last ninety days. Company insiders own 6.60% of the company's stock.

Alignment Healthcare Stock Performance

Alignment Healthcare stock traded down $1.24 during mid-day trading on Friday, reaching $18.24. 6,294,406 shares of the company's stock were exchanged, compared to its average volume of 1,676,082. The firm has a market capitalization of $3.50 billion, a PE ratio of -23.69 and a beta of 1.32. 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 business's fifty day simple moving average is $16.46 and its 200 day simple moving average is $13.79. Alignment Healthcare, Inc. has a one year low of $4.90 and a one year high of $21.06.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALHC shares. Stephens reiterated an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. Robert W. Baird raised their target price on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday. Bank of America increased their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus lifted their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Finally, William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. 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 company. According to data from MarketBeat.com, Alignment Healthcare has a consensus rating of "Moderate Buy" and a consensus target price of $16.61.

About Alignment Healthcare

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.