Balyasny Asset Management L.P. Takes Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Balyasny Asset Management L.P. purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 48,138 shares of the company's stock, valued at approximately $542,000.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Baird Financial Group Inc. bought a new stake in shares of Alignment Healthcare during the 4th quarter valued at $315,000. BNP Paribas Financial Markets acquired a new position in Alignment Healthcare in the fourth quarter valued at about $234,000. Ameriprise Financial Inc. bought a new position in Alignment Healthcare during the fourth quarter worth about $14,155,000. Algert Global LLC grew its position in shares of Alignment Healthcare by 115.1% during the 4th quarter. Algert Global LLC now owns 174,012 shares of the company's stock worth $1,958,000 after buying an additional 93,109 shares during the period. Finally, Freestone Grove Partners LP acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $1,998,000. 86.19% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Bank of America increased their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Stephens restated an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Robert W. Baird increased their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Finally, JPMorgan Chase & Co. upped their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus price target of $17.17.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $14.84, for a total transaction of $1,335,600.00. Following the transaction, the chief executive officer now directly owns 1,913,100 shares of the company's stock, valued at approximately $28,390,404. This trade represents a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 6,694 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total transaction of $109,781.60. Following the completion of the sale, the chief operating officer now owns 250,378 shares of the company's stock, valued at approximately $4,106,199.20. The trade was a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 2,196,977 shares of company stock worth $35,453,111. 7.00% of the stock is owned by insiders.

Alignment Healthcare Stock Performance

Shares of Alignment Healthcare stock traded up $0.46 during trading on Monday, hitting $16.24. 2,414,780 shares of the stock were exchanged, compared to its average volume of 1,883,591. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a fifty day moving average price of $17.31 and a 200-day moving average price of $14.59. The stock has a market capitalization of $3.21 billion, a price-to-earnings ratio of -21.09 and a beta of 1.32. Alignment Healthcare, Inc. has a 1-year low of $6.92 and a 1-year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data 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. The company had revenue of $926.93 million during the quarter, compared to analysts' expectations of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business's revenue was up 47.5% on a year-over-year basis. During the same period last year, the firm posted ($0.25) earnings per share. As a group, equities analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal 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.