Assenagon Asset Management S.A. Has $15.48 Million Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Assenagon Asset Management S.A. grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 478.0% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 831,397 shares of the company's stock after purchasing an additional 687,566 shares during the period. Assenagon Asset Management S.A. owned approximately 0.43% of Alignment Healthcare worth $15,481,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently bought and sold shares of the company. Rhumbline Advisers lifted its stake in Alignment Healthcare by 4.4% during the 1st quarter. Rhumbline Advisers now owns 141,638 shares of the company's stock worth $2,637,000 after acquiring an additional 5,934 shares in the last quarter. GAMMA Investing LLC raised its position in Alignment Healthcare by 3,216.9% in the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock valued at $443,000 after purchasing an additional 23,097 shares in the last quarter. Wellington Management Group LLP raised its position in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock valued at $83,683,000 after purchasing an additional 3,257,630 shares in the last quarter. Mackenzie Financial Corp raised its position in Alignment Healthcare by 149.8% in the 4th quarter. Mackenzie Financial Corp now owns 85,175 shares of the company's stock valued at $958,000 after purchasing an additional 51,084 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its position in Alignment Healthcare by 15.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 263,203 shares of the company's stock valued at $2,961,000 after purchasing an additional 36,151 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Insider Activity

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Monday, March 17th. The stock was sold at an average price of $15.99, for a total transaction of $479,700.00. Following the completion of the sale, the president now owns 2,417,700 shares of the company's stock, valued at approximately $38,659,023. This trade represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 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 sale, the insider now directly owns 223,474 shares of the company's stock, valued at approximately $3,664,973.60. The trade was a 3.30% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,857,663 shares of company stock worth $274,376,217. 7.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Bank of America increased 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. JPMorgan Chase & Co. increased their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Barclays increased their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, UBS Group increased their price objective 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, six have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $17.17.

Alignment Healthcare Stock Down 0.9%

Shares of NASDAQ ALHC traded down $0.14 on Friday, hitting $14.94. The company had a trading volume of 1,581,551 shares, compared to its average volume of 2,049,401. The firm has a market capitalization of $2.96 billion, a P/E ratio of -19.40 and a beta of 1.22. Alignment Healthcare, Inc. has a 12-month low of $7.05 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. The business has a 50 day moving average of $16.37 and a two-hundred day moving average of $14.92.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping analysts' consensus estimates of ($0.12) by $0.07. The company had revenue of $926.93 million for the quarter, compared to the consensus estimate 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% compared to the same quarter last year. During the same quarter last year, the business posted ($0.25) EPS. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.