Deerfield Management Company L.P. Series C Sells 3,550,683 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Deerfield Management Company L.P. Series C reduced its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 32.7% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 7,304,302 shares of the company's stock after selling 3,550,683 shares during the quarter. Alignment Healthcare accounts for approximately 1.6% of Deerfield Management Company L.P. Series C's holdings, making the stock its 17th largest holding. Deerfield Management Company L.P. Series C owned about 3.81% of Alignment Healthcare worth $82,173,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of ALHC. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter worth about $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at about $106,000. Tower Research Capital LLC TRC grew its position in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after buying an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new position in Alignment Healthcare in the fourth quarter worth about $121,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $129,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on ALHC. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stifel Nicolaus raised their target price on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Robert W. Baird lifted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Bank of America increased their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $17.17.

Insider Activity

In other news, insider Christopher J. Joyce sold 25,000 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total transaction of $389,500.00. Following the completion of the transaction, the insider now directly owns 397,845 shares in the company, valued at $6,198,425.10. The trade was a 5.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction that occurred 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 completion of the sale, the insider now directly owns 200,885 shares of the company's stock, valued at $2,888,726.30. This represents a 6.90% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,091,855 shares of company stock valued at $33,885,357. 7.00% of the stock is owned by insiders.

Alignment Healthcare Stock Down 6.4%

NASDAQ ALHC traded down $0.96 on Tuesday, reaching $13.96. The stock had a trading volume of 2,090,409 shares, compared to its average volume of 1,835,233. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -18.13 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 1 year low of $6.66 and a 1 year high of $21.06. The business has a 50 day moving average price of $17.33 and a 200 day moving average price of $14.51.

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