Northern Trust Corp Has $10.23 Million Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Northern Trust Corp raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 8.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 908,964 shares of the company's stock after purchasing an additional 72,063 shares during the quarter. Northern Trust Corp owned 0.47% of Alignment Healthcare worth $10,226,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Barclays PLC raised its position in Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after buying an additional 114,191 shares during the last quarter. JPMorgan Chase & Co. grew its stake in shares of 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 acquiring an additional 205,705 shares in the last quarter. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $121,000. SG Americas Securities LLC raised its holdings in shares of Alignment Healthcare by 11.7% in the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock valued at $554,000 after purchasing an additional 5,163 shares during the last quarter. Finally, R Squared Ltd bought a new stake in shares of Alignment Healthcare in the fourth quarter worth $55,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Performance

NASDAQ:ALHC traded down $0.02 on Friday, hitting $14.47. The company's stock had a trading volume of 198,345 shares, compared to its average volume of 1,923,276. Alignment Healthcare, Inc. has a one year low of $6.92 and a one year high of $21.06. The firm has a market capitalization of $2.86 billion, a P/E ratio of -18.79 and a beta of 1.32. The stock has a fifty day moving average of $17.28 and a two-hundred day moving average of $14.64. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted 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. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same period in the previous year, the firm earned ($0.25) EPS. The firm's revenue was up 47.5% compared to the same quarter last year. Research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Piper Sandler raised their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Stephens restated an "overweight" rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. Robert W. Baird upped their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. UBS Group increased their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. raised their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the company's stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.28, for a total value of $259,760,000.00. Following the transaction, the director now directly owns 44,302,175 shares of the company's stock, valued at $676,937,234. This represents a 27.73% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, COO Sebastian Burzacchi sold 6,694 shares of Alignment Healthcare stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares of the company's stock, valued at $4,106,199.20. This represents a 2.60% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 19,166,977 shares of company stock worth $294,801,511. 7.00% of the stock is owned by insiders.

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.