Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Purchased by GAMMA Investing LLC

GAMMA Investing LLC increased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 3,216.9% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,815 shares of the company's stock after purchasing an additional 23,097 shares during the quarter. GAMMA Investing LLC's holdings in Alignment Healthcare were worth $443,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. RiverPark Advisors LLC purchased a new stake in Alignment Healthcare during the 4th quarter worth about $106,000. Tower Research Capital LLC TRC increased its position in Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after purchasing an additional 6,286 shares in the last quarter. Aigen Investment Management LP purchased a new stake in Alignment Healthcare during the 4th quarter worth about $129,000. AlphaQuest LLC purchased a new stake in Alignment Healthcare during the 4th quarter worth about $132,000. Finally, Dark Forest Capital Management LP purchased a new stake in Alignment Healthcare during the 4th quarter worth about $150,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Analyst Ratings Changes

A number of research firms recently commented on ALHC. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Stifel Nicolaus lifted their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Piper Sandler lifted 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. JPMorgan Chase & Co. lifted 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. Finally, Robert W. Baird lifted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $17.17.

Alignment Healthcare Trading Down 3.1%

Shares of NASDAQ ALHC traded down $0.44 during midday trading on Friday, hitting $13.96. The stock had a trading volume of 9,042,676 shares, compared to its average volume of 2,104,285. The company has a market capitalization of $2.76 billion, a price-to-earnings ratio of -29.08 and a beta of 1.22. Alignment Healthcare, Inc. has a 1-year low of $7.19 and a 1-year high of $21.06. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. The company has a fifty day moving average price of $15.90 and a 200 day moving average price of $15.00.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The company's revenue was up 47.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($0.25) EPS. On average, analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Activity

In other news, President Dawn Christine Maroney sold 11,152 shares of Alignment Healthcare stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $199,509.28. Following the transaction, the president now directly owns 2,362,899 shares of the company's stock, valued at $42,272,263.11. The trade was a 0.47% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Robert L. Scavo sold 2,864 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the transaction, the insider now directly owns 702,953 shares in the company, valued at $12,575,829.17. This trade represents a 0.41% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,875,452 shares of company stock valued at $274,429,595 in the last three months. Corporate insiders own 6.60% of the company's stock.

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.