New York State Common Retirement Fund Acquires 83,187 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

New York State Common Retirement Fund lifted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 100.9% during the 1st quarter, according to the company in its most recent filing with the SEC. The fund owned 165,642 shares of the company's stock after purchasing an additional 83,187 shares during the quarter. New York State Common Retirement Fund owned 0.08% of Alignment Healthcare worth $3,084,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Ballentine Partners LLC grew its holdings in Alignment Healthcare by 8.6% during the 1st quarter. Ballentine Partners LLC now owns 11,674 shares of the company's stock worth $217,000 after acquiring an additional 924 shares during the last quarter. Penserra Capital Management LLC acquired a new stake in shares of Alignment Healthcare in the 1st quarter valued at approximately $2,409,000. Calamos Advisors LLC bought a new stake in Alignment Healthcare during the 1st quarter worth approximately $936,000. Teacher Retirement System of Texas increased its stake in Alignment Healthcare by 109.1% during the 1st quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company's stock worth $883,000 after purchasing an additional 24,755 shares in the last quarter. Finally, Amalgamated Bank raised its holdings in shares of Alignment Healthcare by 21.6% in the first quarter. Amalgamated Bank now owns 3,466 shares of the company's stock valued at $65,000 after purchasing an additional 616 shares during the last quarter. Institutional investors own 86.19% of the company's stock.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Robert L. Scavo sold 60,000 shares of the firm's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total value of $876,000.00. Following the completion of the transaction, the insider owned 642,953 shares in the company, valued at $9,387,113.80. This trade represents a 8.54% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO John E. Kao sold 180,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $13.41, for a total value of $2,413,800.00. Following the completion of the transaction, the chief executive officer owned 1,553,100 shares of the company's stock, valued at approximately $20,827,071. This represents a 10.39% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,685,262 shares of company stock worth $269,685,496 over the last 90 days. Company insiders own 7.00% of the company's stock.

Alignment Healthcare Trading Up 1.0%

ALHC traded up $0.12 during trading on Friday, hitting $11.76. The company's stock had a trading volume of 3,724,000 shares, compared to its average volume of 2,984,283. Alignment Healthcare, Inc. has a twelve month low of $7.92 and a twelve month 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 stock's fifty day moving average price is $14.14 and its 200-day moving average price is $15.34. The firm has a market capitalization of $2.33 billion, a P/E ratio of -24.50 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share 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 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%. Alignment Healthcare's revenue for the quarter was up 47.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.25) earnings per share. Analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently issued reports on ALHC. UBS Group lifted their price objective on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Stephens raised Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. Robert W. Baird boosted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research note on Tuesday, April 15th. Finally, Stifel Nicolaus lifted their target price on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

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.