Nuveen Asset Management LLC Sells 44,889 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Nuveen Asset Management LLC reduced its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 15.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 242,923 shares of the company's stock after selling 44,889 shares during the quarter. Nuveen Asset Management LLC owned approximately 0.13% of Alignment Healthcare worth $2,733,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of ALHC. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter worth about $106,000. Tower Research Capital LLC TRC grew 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 buying an additional 6,286 shares in the last quarter. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter worth about $129,000. AlphaQuest LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter worth about $132,000. Finally, Dark Forest Capital Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter worth about $150,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of research analyst reports. JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stephens reaffirmed an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, UBS Group upped their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Insider Buying and Selling

In related news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of Alignment Healthcare stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.28, for a total value of $259,760,000.00. Following the transaction, the director now directly owns 44,302,175 shares in the company, valued at $676,937,234. The trade was a 27.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Andreas P. Wagner sold 7,632 shares of Alignment Healthcare stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $125,164.80. Following the transaction, the insider now owns 223,474 shares in the company, valued at $3,664,973.60. This represents a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 18,891,977 shares of company stock valued at $290,517,011. Insiders own 7.00% of the company's stock.

Alignment Healthcare Stock Down 0.1%

Shares of NASDAQ:ALHC traded down $0.02 during mid-day trading on Wednesday, hitting $15.32. 2,488,613 shares of the company traded hands, compared to its average volume of 1,995,567. The firm has a market cap of $3.03 billion, a P/E ratio of -19.90 and a beta of 1.32. 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 52-week low of $7.05 and a 52-week high of $21.06. The firm's 50 day simple moving average is $16.89 and its 200 day simple moving average is $14.75.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating analysts' consensus estimates 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%. Alignment Healthcare's quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the firm earned ($0.25) EPS. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current 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.