Cubist Systematic Strategies LLC Invests $7.50 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

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

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Rhumbline Advisers increased its stake in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock worth $1,527,000 after purchasing an additional 2,937 shares in the last quarter. MetLife Investment Management LLC boosted its holdings in Alignment Healthcare by 5.6% in the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock worth $690,000 after buying an additional 3,256 shares during the period. Alliancebernstein L.P. increased its stake in Alignment Healthcare by 2.8% in the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock worth $1,344,000 after buying an additional 3,300 shares in the last quarter. Adage Capital Partners GP L.L.C. raised its holdings in Alignment Healthcare by 15.0% during the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock valued at $388,000 after acquiring an additional 4,497 shares during the period. Finally, R Squared Ltd purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at about $55,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Piper Sandler boosted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Stephens reissued an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. UBS Group lifted their price target on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective 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. 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.17.

Insider Activity

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 6,694 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was 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 in the company, valued at $4,106,199.20. This represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total value of $213,945.64. Following the sale, the insider now directly owns 200,885 shares in the company, valued at $2,888,726.30. This trade represents a 6.90% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,091,855 shares of company stock worth $33,885,357. 7.00% of the stock is currently owned by corporate insiders.

Alignment Healthcare Trading Down 7.3%

Shares of Alignment Healthcare stock traded down $1.09 on Tuesday, hitting $13.83. 1,514,876 shares of the company traded hands, compared to its average volume of 1,832,945. Alignment Healthcare, Inc. has a 52 week low of $6.66 and a 52 week high of $21.06. The company has a market cap of $2.74 billion, a PE ratio of -17.96 and a beta of 1.32. The stock's 50 day moving average price is $17.33 and its 200-day moving average price is $14.51. 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 (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings results 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 business had revenue of $926.93 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($0.25) EPS. Equities research analysts predict 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.