Voloridge Investment Management LLC Acquires Shares of 16,809 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Voloridge Investment Management LLC bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 16,809 shares of the company's stock, valued at approximately $189,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. R Squared Ltd acquired a new stake in Alignment Healthcare during the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter worth $106,000. Tower Research Capital LLC TRC lifted its position in Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock valued at $119,000 after purchasing an additional 6,286 shares during the period. Aigen Investment Management LP acquired a new position in Alignment Healthcare during the fourth quarter valued at $129,000. Finally, AlphaQuest LLC purchased a new stake in Alignment Healthcare in the fourth quarter valued at $132,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have weighed in on ALHC shares. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Robert W. Baird raised their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday, April 15th. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Finally, Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating and seven have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded down $0.14 on Tuesday, reaching $15.37. The company's stock had a trading volume of 1,240,030 shares, compared to its average volume of 1,983,238. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market capitalization of $3.04 billion, a P/E ratio of -19.96 and a beta of 1.32. The stock has a 50-day moving average price of $16.95 and a 200-day moving average price of $14.74. Alignment Healthcare, Inc. has a 52-week low of $7.05 and a 52-week high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.12) by $0.07. The firm had revenue of $926.93 million for the quarter, compared to analysts' expectations of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm's revenue for the quarter was up 47.5% compared to the same quarter last year. During the same quarter last year, the company earned ($0.25) EPS. Analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Monday, May 12th. The stock was sold at an average price of $14.84, for a total value of $1,335,600.00. Following the completion of the transaction, the chief executive officer now directly owns 1,913,100 shares of the company's stock, valued at approximately $28,390,404. This represents a 4.49% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of Alignment Healthcare stock in a transaction 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 now directly owns 44,302,175 shares in the company, valued at approximately $676,937,234. This trade represents a 27.73% decrease in their position. The disclosure for this sale can be found here. Insiders sold 18,891,977 shares of company stock valued at $290,517,011 over the last 90 days. Corporate insiders own 7.00% of the company's stock.

Alignment Healthcare Company 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.