D. E. Shaw & Co. Inc. Raises Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

D. E. Shaw & Co. Inc. grew its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 55.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 184,614 shares of the company's stock after acquiring an additional 65,915 shares during the period. D. E. Shaw & Co. Inc. owned about 0.10% of Alignment Healthcare worth $2,077,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rhumbline Advisers lifted its stake in shares of Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock valued at $1,527,000 after purchasing an additional 2,937 shares during the period. MetLife Investment Management LLC lifted its stake in shares of Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock valued at $690,000 after purchasing an additional 3,256 shares during the period. Alliancebernstein L.P. lifted its stake in shares of Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock valued at $1,344,000 after purchasing an additional 3,300 shares during the period. Adage Capital Partners GP L.L.C. lifted its stake in shares of Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock valued at $388,000 after purchasing an additional 4,497 shares during the period. Finally, R Squared Ltd acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $55,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, May 14th. The shares were sold at an average price of $14.87, for a total transaction of $446,100.00. Following the completion of the sale, the president now directly owns 2,102,899 shares in the company, valued at $31,270,108.13. The trade was a 1.41% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction 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 sale, the chief executive officer now directly owns 1,913,100 shares of the company's stock, valued at approximately $28,390,404. The trade was a 4.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 2,166,977 shares of company stock worth $35,041,511. 7.00% of the stock is owned by company insiders.

Alignment Healthcare Stock Down 3.4%

Shares of NASDAQ ALHC opened at $15.68 on Wednesday. Alignment Healthcare, Inc. has a 1 year low of $6.92 and a 1 year high of $21.06. The firm's 50 day moving average price is $17.32 and its 200 day moving average price is $14.62. The firm has a market cap of $3.10 billion, a P/E ratio of -20.36 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 (NASDAQ:ALHC - Get Free Report) last announced 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 net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same quarter last year, the business earned ($0.25) earnings per share. Alignment Healthcare's revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ALHC. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. UBS Group lifted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Finally, William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare 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.

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