Baird Financial Group Inc. Invests $315,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Baird Financial Group Inc. bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 27,992 shares of the company's stock, valued at approximately $315,000.

Other large investors have also recently made changes to their positions in the company. Wellington Management Group LLP lifted 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 worth $83,683,000 after buying an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings 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 valued at $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Hood River Capital Management LLC lifted its stake in Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock worth $55,721,000 after acquiring an additional 1,405,212 shares during the period. Ameriprise Financial Inc. bought a new position in Alignment Healthcare during the 4th quarter worth about $14,155,000. Finally, 8 Knots Management LLC increased its position in Alignment Healthcare by 49.5% during the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company's stock valued at $41,160,000 after purchasing an additional 1,211,727 shares during the period. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded down $0.75 during midday trading on Thursday, hitting $14.58. The company's stock had a trading volume of 1,198,921 shares, compared to its average volume of 1,913,213. Alignment Healthcare, Inc. has a fifty-two week low of $6.92 and a fifty-two week high of $21.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market cap of $2.88 billion, a P/E ratio of -19.03 and a beta of 1.32. The firm's 50 day moving average is $17.31 and its 200-day moving average is $14.63.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) EPS 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 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 firm earned ($0.25) EPS. Equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALHC. Bank of America increased their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Robert W. Baird lifted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. Barclays raised their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Friday, February 28th. UBS Group boosted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Finally, Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $17.17.

Insider Transactions at Alignment Healthcare

In related news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the sale, the director now directly owns 44,302,175 shares of the company's stock, valued at approximately $676,937,234. This represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert L. Scavo sold 55,403 shares of Alignment Healthcare stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $860,408.59. Following the completion of the transaction, the insider now directly owns 673,419 shares of the company's stock, valued at $10,458,197.07. The trade was a 7.60% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,166,977 shares of company stock worth $294,801,511 over the last quarter. 7.00% of the stock is currently owned by insiders.

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.