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

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

A number of other institutional investors have also recently made changes to their positions in ALHC. Vanguard Group Inc. raised its holdings in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company's stock worth $110,453,000 after acquiring an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock worth $97,302,000 after purchasing an additional 3,059,596 shares in the last quarter. Wellington Management Group LLP raised its stake in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC raised its stake in shares of Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company's stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC lifted its holdings in shares of Alignment Healthcare by 49.5% during the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company's stock valued at $41,160,000 after purchasing an additional 1,211,727 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on ALHC shares. Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. UBS Group lifted their price target on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research note on Friday, May 2nd. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Finally, Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. One 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. Based on data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $17.17.

Alignment Healthcare Stock Performance

ALHC stock traded up $0.43 during midday trading on Friday, reaching $15.22. 1,951,057 shares of the company's stock traded hands, compared to its average volume of 2,010,981. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 52-week low of $7.05 and a 52-week high of $21.06. The stock has a market cap of $3.01 billion, a P/E ratio of -19.77 and a beta of 1.22. The stock's 50-day moving average is $16.70 and its 200 day moving average is $14.81.

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 (EPS) for the quarter, beating 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 firm had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. During the same quarter in the previous year, the firm posted ($0.25) EPS. The company's revenue for the quarter was up 47.5% compared to the same quarter last year. As a group, analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 230,000 shares of the company's stock in a transaction on Monday, April 14th. The shares were 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 now owns 2,132,899 shares of the company's stock, valued at approximately $40,738,370.90. This represents a 9.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Andreas P. Wagner sold 7,632 shares of the stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $125,164.80. Following the completion of the sale, the insider now owns 223,474 shares of the company's stock, valued at $3,664,973.60. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,784,649 shares of company stock worth $273,320,208 over the last quarter. 7.00% of the stock is currently owned by corporate insiders.

About Alignment Healthcare

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.