666,223 Shares in Alignment Healthcare, Inc. (NASDAQ:ALHC) Acquired by Cubist Systematic Strategies LLC

Cubist Systematic Strategies LLC acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 666,223 shares of the company's stock, valued at approximately $7,495,000. Cubist Systematic Strategies LLC owned 0.35% of Alignment Healthcare as of its most recent SEC filing.

Other large investors have also recently made changes to their positions in the company. Broad Bay Capital Management LP bought a new stake in Alignment Healthcare during the fourth quarter valued at about $18,804,000. Balyasny Asset Management L.P. bought a new stake in Alignment Healthcare during the 4th quarter valued at approximately $542,000. Baird Financial Group Inc. purchased a new position in Alignment Healthcare in the 4th quarter worth approximately $315,000. BNP Paribas Financial Markets bought a new position in Alignment Healthcare in the 4th quarter worth approximately $234,000. Finally, Ameriprise Financial Inc. purchased a new stake in Alignment Healthcare during the 4th quarter valued at approximately $14,155,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

ALHC has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Piper Sandler increased their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. UBS Group lifted their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, Barclays lifted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $17.17.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the sale, the insider now owns 200,885 shares in the company, valued at $2,888,726.30. This trade represents a 6.90 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Robert L. Scavo sold 2,864 shares of the business's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the sale, the insider now directly owns 702,953 shares of the company's stock, valued at $12,575,829.17. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,181,855 shares of company stock worth $35,166,057. 7.00% of the stock is currently owned by company insiders.

Alignment Healthcare Trading Down 1.9 %

NASDAQ ALHC traded down $0.30 on Friday, hitting $15.12. 1,513,816 shares of the stock were exchanged, compared to its average volume of 1,832,669. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 52-week low of $6.66 and a 52-week high of $21.06. The firm has a market capitalization of $2.99 billion, a P/E ratio of -19.64 and a beta of 1.32. The stock has a fifty day moving average price of $17.34 and a two-hundred day moving average price of $14.45.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping 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 firm had revenue of $926.93 million during the quarter, compared to analysts' expectations of $889.83 million. During the same period in the previous year, the company earned ($0.25) EPS. The firm's revenue for the quarter was up 47.5% compared to the same quarter last year. Research analysts forecast 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.