Teacher Retirement System of Texas Raises Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Teacher Retirement System of Texas grew its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 109.1% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 47,447 shares of the company's stock after acquiring an additional 24,755 shares during the period. Teacher Retirement System of Texas' holdings in Alignment Healthcare were worth $883,000 at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Charles Schwab Investment Management Inc. lifted its position in shares of Alignment Healthcare by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company's stock valued at $9,540,000 after acquiring an additional 8,279 shares during the period. Proficio Capital Partners LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $184,000. Raymond James Financial Inc. acquired a new stake in Alignment Healthcare during the fourth quarter worth approximately $1,769,000. AlphaQuest LLC bought a new position in Alignment Healthcare in the fourth quarter worth approximately $132,000. Finally, Royce & Associates LP lifted its holdings in shares of Alignment Healthcare by 144.3% in the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company's stock valued at $8,794,000 after purchasing an additional 461,680 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Trading Down 4.6%

Shares of NASDAQ ALHC traded down $0.61 during midday trading on Friday, reaching $12.55. The company had a trading volume of 709,850 shares, compared to its average volume of 2,232,807. Alignment Healthcare, Inc. has a one year low of $7.92 and a one year high of $21.06. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. The firm's fifty day moving average price is $14.48 and its 200-day moving average price is $15.29. The stock has a market cap of $2.48 billion, a PE ratio of -26.15 and a beta of 1.16.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. The business had revenue of $926.93 million during the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. Alignment Healthcare's quarterly revenue was up 47.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.25) EPS. On average, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALHC. Stifel Nicolaus raised their target price on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Stephens upgraded Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. UBS Group lifted their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Finally, Robert W. Baird lifted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $17.17.

Insiders Place Their Bets

In related news, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction that occurred on Monday, June 16th. The stock was sold at an average price of $14.48, for a total value of $434,400.00. Following the sale, the president owned 2,072,899 shares in the company, valued at $30,015,577.52. This represents a 1.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Robert L. Scavo sold 60,000 shares of the company's stock in a transaction that occurred on Tuesday, June 10th. The stock was sold at an average price of $14.60, for a total value of $876,000.00. Following the completion of the sale, the insider owned 642,953 shares in the company, valued at $9,387,113.80. The trade was a 8.54% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,685,262 shares of company stock worth $269,685,496. 7.00% of the stock is currently owned by company insiders.

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.