Victory Capital Management Inc. lifted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 905.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 114,397 shares of the company's stock after acquiring an additional 103,022 shares during the quarter. Victory Capital Management Inc. owned about 0.06% of Alignment Healthcare worth $2,130,000 as of its most recent filing with the Securities and Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the business. Wellington Management Group LLP increased its stake in Alignment Healthcare by 77.9% during the 4th 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 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 buying 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 buying an additional 2,896,311 shares during the period. Point72 Asset Management L.P. purchased a new stake in Alignment Healthcare during the 4th quarter worth $20,087,000. Finally, Broad Bay Capital Management LP purchased a new stake in Alignment Healthcare during the 4th quarter worth $18,804,000. Institutional investors and hedge funds own 86.19% of the company's stock.
Analyst Ratings Changes
ALHC has been the topic of several analyst reports. Stephens raised shares of Alignment Healthcare to a "strong-buy" rating in a research note on Monday, June 2nd. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. Robert W. Baird boosted 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, UBS Group boosted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare presently has an average rating of "Moderate Buy" and an average target price of $17.17.
View Our Latest Stock Report on ALHC
Insider Buying and Selling at Alignment Healthcare
In other Alignment Healthcare news, CEO John E. Kao sold 180,000 shares of the business's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $13.41, for a total transaction of $2,413,800.00. Following the completion of the transaction, the chief executive officer directly owned 1,553,100 shares of the company's stock, valued at $20,827,071. The trade was a 10.39% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the business's stock in a transaction dated 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 transaction, the director directly owned 44,302,175 shares of the company's stock, valued at $676,937,234. The trade was a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 17,685,262 shares of company stock worth $269,685,496. 6.60% of the stock is owned by company insiders.
Alignment Healthcare Stock Performance
Shares of NASDAQ:ALHC traded up $1.22 during trading on Wednesday, reaching $13.00. 9,000,300 shares of the company's stock traded hands, compared to its average volume of 2,931,857. 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, Inc. has a 12 month low of $7.92 and a 12 month high of $21.06. The company has a 50 day moving average of $13.98 and a 200-day moving average of $15.34. The stock has a market capitalization of $2.57 billion, a P/E ratio of -27.08 and a beta of 1.16.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last announced its quarterly earnings data on Wednesday, July 30th. The company reported $0.07 earnings per share for the quarter, beating analysts' consensus estimates of ($0.07) by $0.14. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. On average, equities analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.
About Alignment Healthcare
(
Free Report)
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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