Calamos Advisors LLC Invests $936,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Calamos Advisors LLC purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 50,262 shares of the company's stock, valued at approximately $936,000.

A number of other institutional investors have also recently bought and sold shares of the stock. Amalgamated Bank grew its stake in Alignment Healthcare by 21.6% during the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after acquiring an additional 616 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in Alignment Healthcare by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock valued at $641,000 after acquiring an additional 2,154 shares in the last quarter. MetLife Investment Management LLC grew its stake in Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock valued at $690,000 after acquiring an additional 3,256 shares in the last quarter. Alliancebernstein L.P. grew its stake in Alignment Healthcare by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock valued at $1,344,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. grew its stake in shares of Alignment Healthcare by 15.0% in the 4th quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock valued at $388,000 after buying an additional 4,497 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Insiders Place Their Bets

In related news, 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 value of $4,393,000.00. Following the completion of the transaction, the president directly owned 2,132,899 shares in the company, valued at approximately $40,738,370.90. The trade was a 9.73% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction that occurred on Monday, May 12th. The shares were sold at an average price of $14.84, for a total value of $1,335,600.00. Following the completion of the sale, the chief executive officer owned 1,913,100 shares in the company, valued at $28,390,404. The trade was a 4.49% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,795,262 shares of company stock valued at $272,980,496 over the last 90 days. 7.00% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALHC shares. Robert W. Baird upped their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. UBS Group upped their target price on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research note on Friday, May 2nd. Finally, Stifel Nicolaus upped their target price on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare Trading Down 3.7%

ALHC stock traded down $0.52 during midday trading on Thursday, reaching $13.38. The stock had a trading volume of 2,611,439 shares, compared to its average volume of 2,218,439. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. Alignment Healthcare, Inc. has a twelve month low of $7.77 and a twelve month high of $21.06. The firm has a market cap of $2.65 billion, a price-to-earnings ratio of -27.88 and a beta of 1.16. The business has a fifty day simple moving average of $14.77 and a two-hundred day simple moving average of $15.19.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its 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. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The firm had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. During the same quarter last year, the business earned ($0.25) earnings per share. The company's revenue was up 47.5% compared to the same quarter last year. As a group, research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

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.