Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Acquired by Millennium Management LLC

Millennium Management LLC boosted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 588.3% during the 4th quarter, according to its most recent filing with the SEC. The firm owned 3,388,602 shares of the company's stock after purchasing an additional 2,896,311 shares during the period. Millennium Management LLC owned approximately 1.77% of Alignment Healthcare worth $38,122,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in ALHC. Barclays PLC grew its position in Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after purchasing an additional 114,191 shares during the period. JPMorgan Chase & Co. grew its position in Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock worth $3,407,000 after purchasing an additional 205,705 shares during the period. Ballentine Partners LLC acquired a new stake in Alignment Healthcare during the 4th quarter worth about $121,000. SG Americas Securities LLC grew its position in Alignment Healthcare by 11.7% during the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock worth $554,000 after purchasing an additional 5,163 shares during the period. Finally, R Squared Ltd acquired a new stake in Alignment Healthcare during the 4th quarter worth about $55,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 6,694 shares of the firm's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total transaction of $109,781.60. Following the completion of the transaction, the chief operating officer now owns 250,378 shares of the company's stock, valued at approximately $4,106,199.20. This trade represents a 2.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Robert L. Scavo sold 55,403 shares of Alignment Healthcare stock in a transaction on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $860,408.59. Following the completion of the sale, the insider now directly owns 673,419 shares of the company's stock, valued at approximately $10,458,197.07. This represents a 7.60% decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,166,977 shares of company stock valued at $35,041,511 in the last three months. 7.00% of the stock is currently owned by company insiders.

Alignment Healthcare Stock Down 2.2%

Shares of ALHC traded down $0.35 during mid-day trading on Wednesday, reaching $15.33. The company's stock had a trading volume of 4,003,183 shares, compared to its average volume of 1,909,986. Alignment Healthcare, Inc. has a 12-month low of $6.92 and a 12-month high of $21.06. The stock has a market cap of $3.03 billion, a PE ratio of -19.91 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company's 50 day moving average is $17.32 and its 200 day moving average is $14.62.

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, beating analysts' consensus estimates of ($0.12) by $0.07. The firm had revenue of $926.93 million during the quarter, compared to analysts' expectations 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 revenue was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) EPS. Equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the company. JPMorgan Chase & Co. increased their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Bank of America increased their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barclays increased their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday, April 8th. Finally, Piper Sandler increased their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus 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.