Teacher Retirement System of Texas Purchases 24,755 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Teacher Retirement System of Texas raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 109.1% in the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 47,447 shares of the company's stock after purchasing an additional 24,755 shares during the period. Teacher Retirement System of Texas' holdings in Alignment Healthcare were worth $883,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also bought and sold shares of the stock. Amalgamated Bank boosted its holdings in Alignment Healthcare by 21.6% in the 1st quarter. Amalgamated Bank now owns 3,466 shares of the company's stock worth $65,000 after buying an additional 616 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in Alignment Healthcare by 3.9% during the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company's stock valued at $641,000 after acquiring an additional 2,154 shares during the period. MetLife Investment Management LLC lifted its position in shares of Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock valued at $690,000 after acquiring an additional 3,256 shares in the last quarter. Alliancebernstein L.P. lifted its position in shares of Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock valued at $1,344,000 after acquiring an additional 3,300 shares in the last quarter. Finally, Adage Capital Partners GP L.L.C. boosted its stake in shares of Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company's stock worth $388,000 after acquiring an additional 4,497 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of ALHC stock traded down $0.24 on Thursday, reaching $13.15. The company's stock had a trading volume of 2,223,190 shares, compared to its average volume of 2,238,417. The stock's fifty day simple moving average is $14.52 and its 200-day simple moving average is $15.28. Alignment Healthcare, Inc. has a 1 year low of $7.92 and a 1 year high of $21.06. The company has a market capitalization of $2.60 billion, a price-to-earnings ratio of -27.40 and a beta of 1.16. The company has a current ratio of 1.69, a quick ratio of 1.69 and a debt-to-equity ratio of 2.95.

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

Insider Buying and Selling

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the company's stock in a transaction that occurred on Monday, May 19th. The stock was sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the sale, the director directly owned 44,302,175 shares in the company, valued at $676,937,234. This represents a 27.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare 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 completion of the transaction, the president owned 2,072,899 shares of the company's stock, valued at approximately $30,015,577.52. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 17,685,262 shares of company stock worth $269,685,496. Insiders own 7.00% of the company's stock.

Analyst Ratings Changes

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

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.