Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Acquired by Northern Trust Corp

Northern Trust Corp boosted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 8.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 908,964 shares of the company's stock after buying an additional 72,063 shares during the quarter. Northern Trust Corp owned 0.47% of Alignment Healthcare worth $10,226,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. JPMorgan Chase & Co. lifted its holdings in shares of Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock valued at $3,407,000 after purchasing an additional 205,705 shares in the last quarter. Barclays PLC lifted its holdings in shares of Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after purchasing an additional 114,191 shares in the last quarter. US Bancorp DE lifted its holdings in shares of Alignment Healthcare by 6,544.2% in the fourth quarter. US Bancorp DE now owns 98,932 shares of the company's stock valued at $1,113,000 after purchasing an additional 97,443 shares in the last quarter. Franklin Resources Inc. purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $732,000. Finally, Proficio Capital Partners LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $184,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the transaction, the director now owns 44,302,175 shares of the company's stock, valued at $676,937,234. This trade represents a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, President Dawn Christine Maroney sold 278,917 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $4,331,581.01. Following the completion of the sale, the president now directly owns 2,303,975 shares of the company's stock, valued at $35,780,731.75. The trade was a 10.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,166,977 shares of company stock valued at $294,801,511 over the last quarter. Company insiders own 7.00% of the company's stock.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Piper Sandler upped their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Bank of America upped their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Finally, Barclays upped their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. 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 given a strong buy rating to the company's stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Alignment Healthcare Trading Down 0.1%

Shares of ALHC traded down $0.01 on Friday, hitting $14.48. 2,346,081 shares of the stock traded hands, compared to its average volume of 1,937,601. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market capitalization of $2.86 billion, a P/E ratio of -18.81 and a beta of 1.32. Alignment Healthcare, Inc. has a 1 year low of $6.92 and a 1 year high of $21.06. The stock's 50 day moving average is $17.24 and its two-hundred day moving average is $14.64.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly 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 the consensus estimate of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. Alignment Healthcare's revenue was up 47.5% on a year-over-year basis. During the same quarter last year, the firm posted ($0.25) earnings per share. As a group, sell-side analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

About Alignment Healthcare

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.