Federated Hermes Inc. Has $5.99 Million Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Federated Hermes Inc. grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 33.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 532,555 shares of the company's stock after purchasing an additional 132,635 shares during the period. Federated Hermes Inc. owned approximately 0.28% of Alignment Healthcare worth $5,991,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. R Squared Ltd bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $55,000. Ballentine Partners LLC purchased a new stake in shares of Alignment Healthcare during the 4th quarter valued at $121,000. Aigen Investment Management LP purchased a new position in Alignment Healthcare in the fourth quarter valued at about $129,000. AlphaQuest LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at $132,000. Finally, Proficio Capital Partners LLC purchased a new position in shares of Alignment Healthcare in the fourth quarter worth about $184,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, insider Hakan Kardes sold 10,500 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $14.99, for a total value of $157,395.00. Following the completion of the transaction, the insider now directly owns 309,944 shares of the company's stock, valued at $4,646,060.56. This represents a 3.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Dawn Christine Maroney sold 230,000 shares of the business's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the sale, the president now owns 2,132,899 shares in the company, valued at $40,738,370.90. The trade was a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,181,855 shares of company stock worth $35,118,912. Company insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Bank of America lifted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Piper Sandler boosted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Finally, William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $16.61.

Alignment Healthcare Stock Down 6.9 %

Shares of NASDAQ ALHC traded down $1.34 during midday trading on Thursday, hitting $18.14. 3,380,568 shares of the company's stock were exchanged, compared to its average volume of 1,661,453. Alignment Healthcare, Inc. has a twelve month low of $4.80 and a twelve month high of $21.06. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a market cap of $3.48 billion, a PE ratio of -23.72 and a beta of 1.32. The firm's fifty day simple moving average is $16.39 and its 200-day simple moving average is $13.74.

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.