Mackenzie Financial Corp Grows Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Mackenzie Financial Corp boosted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 149.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 85,175 shares of the company's stock after buying an additional 51,084 shares during the period. Mackenzie Financial Corp's holdings in Alignment Healthcare were worth $958,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd acquired a new position in Alignment Healthcare during the 4th quarter valued at about $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at about $106,000. Tower Research Capital LLC TRC increased its holdings in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares during the period. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at about $129,000. Finally, AlphaQuest LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at about $132,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

ALHC stock traded down $0.53 during mid-day trading on Thursday, reaching $14.79. 2,923,108 shares of the company's stock were exchanged, compared to its average volume of 2,005,287. The company has a market cap of $2.93 billion, a price-to-earnings ratio of -19.21 and a beta of 1.22. The stock's 50 day moving average is $16.75 and its 200 day moving average is $14.78. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 12-month low of $7.05 and a 12-month high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its earnings results 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 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%. The business'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) earnings per share. On average, research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

A number of brokerages have recently weighed in on ALHC. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. 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. Robert W. Baird increased their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, Stephens restated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating and seven have given a buy rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Insider Activity

In related news, President Dawn Christine Maroney sold 230,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total value of $4,393,000.00. Following the completion of the sale, the president now owns 2,132,899 shares of the company's stock, valued at approximately $40,738,370.90. This trade represents a 9.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Robert L. Scavo sold 2,864 shares of the firm's stock in a transaction 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 sale, the insider now directly owns 702,953 shares of the company's stock, valued at approximately $12,575,829.17. This trade represents a 0.41% decrease in their position. The disclosure for this sale can be found here. Insiders have 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.

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.