Durable Capital Partners LP Lowers Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Durable Capital Partners LP lowered its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 16.3% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,586,110 shares of the company's stock after selling 890,718 shares during the quarter. Durable Capital Partners LP owned about 2.39% of Alignment Healthcare worth $51,594,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of ALHC. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter valued at about $55,000. RiverPark Advisors LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at about $106,000. Tower Research Capital LLC TRC lifted its position in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after purchasing an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth about $121,000. Finally, Aigen Investment Management LP acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth about $129,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Insider Transactions at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the firm's stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now directly owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. This trade represents a 1.87% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Sebastian Burzacchi sold 6,694 shares of the firm's stock in a transaction that occurred 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 transaction, the chief operating officer now owns 250,378 shares in the company, valued at approximately $4,106,199.20. This trade represents a 2.60% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 2,181,855 shares of company stock worth $35,166,057. Insiders own 7.00% of the company's stock.

Alignment Healthcare Stock Down 2.1%

ALHC stock traded down $0.31 during midday trading on Monday, reaching $14.81. 871,828 shares of the company were exchanged, compared to its average volume of 1,829,023. 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 1-year low of $6.66 and a 1-year high of $21.06. The stock's 50-day simple moving average is $17.34 and its 200 day simple moving average is $14.48. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -19.25 and a beta of 1.32.

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 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 company had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. During the same quarter last year, the company earned ($0.25) earnings per share. The firm's revenue for the quarter was up 47.5% on a year-over-year basis. On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analyst Ratings Changes

Several brokerages have recently issued reports on ALHC. 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. Barclays increased their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their price target 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. Bank of America increased their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. 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's stock. According to MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and an average target price of $17.17.

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.