New York State Common Retirement Fund Increases Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

New York State Common Retirement Fund raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 100.9% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 165,642 shares of the company's stock after buying an additional 83,187 shares during the quarter. New York State Common Retirement Fund owned about 0.08% of Alignment Healthcare worth $3,084,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Teacher Retirement System of Texas lifted its position in shares of Alignment Healthcare by 109.1% in the first quarter. Teacher Retirement System of Texas now owns 47,447 shares of the company's stock worth $883,000 after buying an additional 24,755 shares in the last quarter. Northern Trust Corp lifted its holdings in Alignment Healthcare by 8.6% during the fourth quarter. Northern Trust Corp now owns 908,964 shares of the company's stock worth $10,226,000 after buying an additional 72,063 shares during the period. GAMMA Investing LLC increased its position in shares of Alignment Healthcare by 3,216.9% in the 1st quarter. GAMMA Investing LLC now owns 23,815 shares of the company's stock valued at $443,000 after acquiring an additional 23,097 shares during the period. Franklin Resources Inc. purchased a new position in Alignment Healthcare in the 4th quarter valued at about $732,000. Finally, Ameriprise Financial Inc. acquired a new stake in shares of Alignment Healthcare during the 4th quarter worth approximately $14,155,000. Institutional investors own 86.19% of the company's stock.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 60,000 shares of the company's stock in a transaction on Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total transaction of $876,000.00. Following the transaction, the insider owned 642,953 shares of the company's stock, valued at approximately $9,387,113.80. This represents a 8.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO John E. Kao sold 180,000 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were 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 $20,827,071. The trade was a 10.39% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,685,262 shares of company stock worth $269,685,496. 6.60% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

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

Alignment Healthcare Trading Down 1.3%

Shares of ALHC opened at $12.34 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69. The firm's 50 day simple moving average is $14.42 and its 200 day simple moving average is $15.35. The company has a market capitalization of $2.44 billion, a P/E ratio of -25.71 and a beta of 1.16. Alignment Healthcare, Inc. has a 1-year low of $7.92 and a 1-year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly 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. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The company had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. During the same period in the previous year, the company posted ($0.25) earnings per share. Alignment Healthcare's revenue for the quarter was up 47.5% on a year-over-year basis. Sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.

Want to see what other hedge funds are holding ALHC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.