State of New Jersey Common Pension Fund D Acquires New Shares in Alignment Healthcare, Inc. $ALHC

State of New Jersey Common Pension Fund D acquired a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 133,966 shares of the company's stock, valued at approximately $2,646,000. State of New Jersey Common Pension Fund D owned about 0.07% of Alignment Healthcare at the end of the most recent quarter.

A number of other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in Alignment Healthcare by 10.9% during the fourth quarter. Vanguard Group Inc. now owns 15,492,802 shares of the company's stock valued at $305,983,000 after purchasing an additional 1,524,218 shares during the last quarter. Wellington Management Group LLP boosted its position in Alignment Healthcare by 167.3% during the third quarter. Wellington Management Group LLP now owns 11,089,727 shares of the company's stock valued at $193,516,000 after purchasing an additional 6,940,277 shares during the last quarter. 8 Knots Management LLC boosted its position in Alignment Healthcare by 6.4% during the second quarter. 8 Knots Management LLC now owns 5,015,881 shares of the company's stock valued at $70,222,000 after purchasing an additional 300,409 shares during the last quarter. Invesco Ltd. boosted its position in Alignment Healthcare by 7.1% during the third quarter. Invesco Ltd. now owns 4,466,630 shares of the company's stock valued at $77,943,000 after purchasing an additional 296,101 shares during the last quarter. Finally, William Blair Investment Management LLC boosted its position in Alignment Healthcare by 43.4% during the third quarter. William Blair Investment Management LLC now owns 2,119,952 shares of the company's stock valued at $36,993,000 after purchasing an additional 641,381 shares during the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $18.30 on Wednesday. Alignment Healthcare, Inc. has a fifty-two week low of $11.63 and a fifty-two week high of $23.87. The stock's 50-day moving average is $19.34 and its two-hundred day moving average is $19.46. The company has a debt-to-equity ratio of 1.56, a current ratio of 1.58 and a quick ratio of 1.58. The firm has a market cap of $3.78 billion, a P/E ratio of 203.33, a price-to-earnings-growth ratio of 3.38 and a beta of 1.26.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Thursday, April 30th. The company reported $0.05 earnings per share for the quarter, beating the consensus estimate of $0.01 by $0.04. Alignment Healthcare had a return on equity of 11.50% and a net margin of 0.47%.The company had revenue of $1.24 billion for the quarter, compared to analyst estimates of $1.22 billion. During the same period last year, the company earned ($0.05) earnings per share. The business's revenue was up 33.3% compared to the same quarter last year. On average, analysts anticipate that Alignment Healthcare, Inc. will post 0.15 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently issued reports on ALHC. Barclays lifted their price objective on Alignment Healthcare from $18.00 to $19.00 and gave the company an "equal weight" rating in a research report on Friday. Wolfe Research began coverage on Alignment Healthcare in a research report on Friday, April 17th. They set an "outperform" rating and a $24.00 price objective for the company. Zacks Research raised Alignment Healthcare from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, April 28th. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $23.00 to $26.00 and gave the company an "overweight" rating in a research report on Thursday, February 5th. Finally, Weiss Ratings reissued a "sell (d-)" rating on shares of Alignment Healthcare in a research report on Monday, April 20th. Two analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $24.89.

Insider Activity

In other Alignment Healthcare news, President Dawn Christine Maroney sold 36,749 shares of the firm's stock in a transaction dated Wednesday, March 18th. The stock was sold at an average price of $17.84, for a total transaction of $655,602.16. Following the transaction, the president directly owned 1,058,813 shares in the company, valued at $18,889,223.92. This trade represents a 3.35% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Kao sold 250,000 shares of the firm's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $21.01, for a total value of $5,252,500.00. Following the transaction, the chief executive officer owned 2,104,641 shares in the company, valued at approximately $44,218,507.41. This trade represents a 10.62% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 1,474,097 shares of company stock worth $28,679,550. Corporate insiders own 5.20% of the company's stock.

Alignment Healthcare Profile

Alignment Healthcare, Inc NASDAQ: ALHC is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare's approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.

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