Stephens Inc. AR Invests $389,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Stephens Inc. AR purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor purchased 20,876 shares of the company's stock, valued at approximately $389,000.

Other hedge funds have also modified their holdings of the company. Wellington Management Group LLP boosted 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 valued at $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its stake in 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 worth $97,302,000 after acquiring an additional 3,059,596 shares during the period. Millennium Management LLC increased its stake in 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. bought a new position in Alignment Healthcare during the 4th quarter worth $20,087,000. Finally, Broad Bay Capital Management LP acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at $18,804,000. 86.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on ALHC shares. Stifel Nicolaus lifted their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Stephens raised Alignment Healthcare to a "strong-buy" rating in a report on Monday, June 2nd. UBS Group upped their target price on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a report on Friday, May 2nd. Finally, Robert W. Baird increased their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Insider Activity

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Monday, June 16th. The shares were sold at an average price of $14.48, for a total transaction of $434,400.00. Following the completion of the sale, the president directly owned 2,072,899 shares in the company, valued at approximately $30,015,577.52. The trade was a 1.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the business's stock in a transaction 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 sale, the director owned 44,302,175 shares of the company's stock, valued at approximately $676,937,234. This represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 17,685,262 shares of company stock valued at $269,685,496 in the last quarter. Insiders own 7.00% of the company's stock.

Alignment Healthcare Trading Down 5.6%

Shares of ALHC stock opened at $12.41 on Friday. The stock has a market capitalization of $2.46 billion, a PE ratio of -25.85 and a beta of 1.16. Alignment Healthcare, Inc. has a 1-year low of $7.92 and a 1-year high of $21.06. The business has a 50-day moving average of $14.42 and a 200 day moving average of $15.33. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69.

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 for the quarter, beating the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The business had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. During the same period in the previous year, the firm posted ($0.25) EPS. The business's revenue was up 47.5% on a year-over-year basis. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

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.

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