Point72 Asset Management L.P. Acquires New Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Point72 Asset Management L.P. acquired a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 1,785,480 shares of the company's stock, valued at approximately $20,087,000. Point72 Asset Management L.P. owned approximately 0.93% of Alignment Healthcare as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in ALHC. R Squared Ltd purchased a new position in shares of Alignment Healthcare in the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new position in Alignment Healthcare in the fourth quarter worth $106,000. Tower Research Capital LLC TRC raised its holdings in Alignment Healthcare by 146.7% in 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 purchased a new position in Alignment Healthcare during the fourth quarter valued at $121,000. Finally, Aigen Investment Management LP bought a new stake in shares of Alignment Healthcare during the 4th quarter valued at $129,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Analysts Set New Price Targets

ALHC has been the subject of several research reports. 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 note on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Bank of America boosted their price target on 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 upped their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $17.17.

Alignment Healthcare Stock Down 0.4%

Alignment Healthcare stock traded down $0.07 during trading hours on Friday, hitting $14.43. The stock had a trading volume of 458,735 shares, compared to its average volume of 2,783,173. The stock's 50-day moving average price is $17.28 and its 200-day moving average price is $14.64. The stock has a market capitalization of $2.85 billion, a P/E ratio of -18.73 and a beta of 1.32. Alignment Healthcare, Inc. has a 12-month low of $6.92 and a 12-month high of $21.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $889.83 million. During the same quarter last year, the firm earned ($0.25) earnings per share. The firm's quarterly revenue was up 47.5% compared to the same quarter last year. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $14.84, for a total transaction of $1,335,600.00. Following the transaction, the chief executive officer now owns 1,913,100 shares in the company, valued at $28,390,404. This represents a 4.49% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the firm's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the completion of the sale, the director now owns 44,302,175 shares in the company, valued at $676,937,234. This represents a 27.73% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 19,166,977 shares of company stock valued at $294,801,511. Corporate insiders own 7.00% of the company's stock.

Alignment Healthcare Company 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.