Voya Investment Management LLC Has $2.86 Million Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Voya Investment Management LLC decreased its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 17.7% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 254,474 shares of the company's stock after selling 54,908 shares during the period. Voya Investment Management LLC owned 0.13% of Alignment Healthcare worth $2,863,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in ALHC. Wellington Management Group LLP raised its holdings in shares of Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after buying an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. boosted its position in shares of Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock worth $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Hood River Capital Management LLC lifted its position in shares of Alignment Healthcare by 39.6% during the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock worth $55,721,000 after purchasing an additional 1,405,212 shares in the last quarter. Next Century Growth Investors LLC acquired a new position in Alignment Healthcare in the fourth quarter worth $11,453,000. Finally, William Blair Investment Management LLC lifted its holdings in Alignment Healthcare by 50.7% in the fourth quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company's stock worth $33,442,000 after purchasing an additional 999,940 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Tuesday, February 11th. The shares were 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Robert L. Scavo sold 2,864 shares of the firm's stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares of the company's stock, valued at approximately $12,575,829.17. This trade represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,181,855 shares of company stock worth $35,166,057. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on ALHC. Robert W. Baird raised their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Piper Sandler upped their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price target on shares of 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 increased their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Finally, Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. One 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 MarketBeat.com, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded down $0.22 during trading hours on Thursday, hitting $15.30. 293,432 shares of the company traded hands, compared to its average volume of 1,818,981. The firm has a 50-day moving average of $17.36 and a 200 day moving average of $14.36. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -19.87 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. Alignment Healthcare, Inc. has a twelve month low of $6.66 and a twelve month high of $21.06.

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

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.