Squarepoint Ops LLC Acquires 159,774 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Squarepoint Ops LLC increased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 414.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 198,309 shares of the company's stock after purchasing an additional 159,774 shares during the quarter. Squarepoint Ops LLC owned about 0.10% of Alignment Healthcare worth $2,231,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. R Squared Ltd acquired a new position in Alignment Healthcare during the 4th quarter worth $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC lifted its stake in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after acquiring an additional 6,286 shares during the period. Aigen Investment Management LP bought a new position in Alignment Healthcare in the fourth quarter valued at about $129,000. Finally, AlphaQuest LLC acquired a new stake in Alignment Healthcare in the fourth quarter worth about $132,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Trading Up 0.9%

Shares of NASDAQ ALHC traded up $0.14 during midday trading on Monday, reaching $15.51. 3,431,604 shares of the stock were exchanged, compared to its average volume of 1,986,701. Alignment Healthcare, Inc. has a 12 month low of $7.05 and a 12 month high of $21.06. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -20.14 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 business has a 50-day simple moving average of $16.95 and a two-hundred day simple moving average of $14.74.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate 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 the consensus estimate of $889.83 million. During the same quarter last year, the business posted ($0.25) EPS. The firm's revenue was up 47.5% compared to the same quarter last year. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on ALHC shares. Robert W. Baird upped their target price on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Piper Sandler raised their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. JPMorgan Chase & Co. lifted their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. Finally, 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 note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, three have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $17.17.

Insider Activity

In related news, insider Robert L. Scavo sold 2,864 shares of the company's stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the transaction, the insider now directly owns 702,953 shares of the company's stock, valued at approximately $12,575,829.17. This represents a 0.41% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Dawn Christine Maroney sold 278,917 shares of Alignment Healthcare stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $4,331,581.01. Following the completion of the sale, the president now directly owns 2,303,975 shares in the company, valued at $35,780,731.75. This represents a 10.80% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 19,166,977 shares of company stock worth $294,801,511 in the last 90 days. Corporate insiders own 7.00% of the company's stock.

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.