Alignment Healthcare, Inc. (NASDAQ:ALHC) Position Boosted by Squarepoint Ops LLC

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

A number of other hedge funds and other institutional investors have also made changes to their positions in ALHC. Wellington Management Group LLP lifted its position in Alignment Healthcare by 77.9% during the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company's stock worth $83,683,000 after buying an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company's stock valued at $97,302,000 after acquiring an additional 3,059,596 shares during the last quarter. Millennium Management LLC lifted its holdings in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company's stock worth $38,122,000 after acquiring an additional 2,896,311 shares during the period. Point72 Asset Management L.P. acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth approximately $18,804,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on ALHC shares. Robert W. Baird increased their price target on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. UBS Group upped their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Barclays lifted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Stephens restated an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $17.17.

Alignment Healthcare Stock Up 3.7%

Shares of NASDAQ:ALHC traded up $0.55 during mid-day trading on Friday, hitting $15.45. 5,429,699 shares of the company traded hands, compared to its average volume of 1,982,046. The firm has a market cap of $3.06 billion, a P/E ratio of -20.06 and a beta of 1.32. Alignment Healthcare, Inc. has a 52-week low of $7.05 and a 52-week high of $21.06. The firm's 50 day simple moving average is $16.99 and its 200 day simple moving average is $14.69. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its quarterly earnings data 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. The company had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business's quarterly 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. On average, equities analysts anticipate that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

In related news, COO Sebastian Burzacchi sold 6,694 shares of the stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the completion of the transaction, the chief operating officer now owns 250,378 shares of the company's stock, valued at approximately $4,106,199.20. This represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total value of $3,895,000.00. Following the sale, the chief financial officer now owns 1,635,849 shares in the company, valued at $25,486,527.42. This represents a 13.26% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 19,166,977 shares of company stock valued at $294,801,511 in the last quarter. Company insiders own 7.00% of the company's stock.

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.