Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 77.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 7,438,500 shares of the company's stock after purchasing an additional 3,257,630 shares during the period. Wellington Management Group LLP owned 3.88% of Alignment Healthcare worth $83,683,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in ALHC. R Squared Ltd bought a new stake in Alignment Healthcare during the fourth quarter valued at $55,000. RiverPark Advisors LLC bought a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $106,000. Tower Research Capital LLC TRC grew its holdings in shares of Alignment Healthcare by 146.7% during the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after purchasing an additional 6,286 shares in the last quarter. Aigen Investment Management LP bought a new position in shares of Alignment Healthcare in the fourth quarter worth approximately $129,000. Finally, AlphaQuest LLC bought a new stake in Alignment Healthcare during the fourth quarter valued at approximately $132,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Down 1.0%

NASDAQ:ALHC traded down $0.16 during midday trading on Monday, hitting $15.21. 994,506 shares of the company traded hands, compared to its average volume of 1,976,584. The firm has a market capitalization of $3.01 billion, a P/E ratio of -19.74 and a beta of 1.32. The firm's fifty day moving average is $16.99 and its 200-day moving average is $14.72. Alignment Healthcare, Inc. has a 12-month low of $7.05 and a 12-month high of $21.06. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of research reports. Stifel Nicolaus raised their price target on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday, April 8th. Stephens restated an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. UBS Group boosted their price objective 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, JPMorgan Chase & Co. raised their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating and seven have assigned a buy rating to the company's stock. According to MarketBeat, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $17.17.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of Alignment Healthcare stock in a transaction on Monday, May 19th. The shares were sold at an average price of $15.28, for a total value of $259,760,000.00. Following the completion of the transaction, the director now owns 44,302,175 shares of the company's stock, valued at approximately $676,937,234. The trade was a 27.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Robert L. Scavo sold 55,403 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $860,408.59. Following the sale, the insider now directly owns 673,419 shares of the company's stock, valued at $10,458,197.07. This represents a 7.60% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 19,166,977 shares of company stock worth $294,801,511. Company insiders own 7.00% of the company's stock.

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.