61,154 Shares in Alignment Healthcare, Inc. (NASDAQ:ALHC) Acquired by Y Intercept Hong Kong Ltd

Y Intercept Hong Kong Ltd bought a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 61,154 shares of the company's stock, valued at approximately $1,139,000.

A number of other hedge funds also recently made changes to their positions in ALHC. Victory Capital Management Inc. boosted its holdings in Alignment Healthcare by 905.7% during the 1st quarter. Victory Capital Management Inc. now owns 114,397 shares of the company's stock valued at $2,130,000 after acquiring an additional 103,022 shares during the period. CWM LLC boosted its stake in shares of Alignment Healthcare by 137.6% during the first quarter. CWM LLC now owns 10,553 shares of the company's stock valued at $196,000 after purchasing an additional 6,112 shares during the period. Stephens Inc. AR bought a new position in shares of Alignment Healthcare in the first quarter worth about $389,000. New York State Common Retirement Fund lifted its holdings in Alignment Healthcare by 100.9% during the 1st quarter. New York State Common Retirement Fund now owns 165,642 shares of the company's stock valued at $3,084,000 after buying an additional 83,187 shares in the last quarter. Finally, Ballentine Partners LLC boosted its position in Alignment Healthcare by 8.6% in the 1st quarter. Ballentine Partners LLC now owns 11,674 shares of the company's stock valued at $217,000 after buying an additional 924 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Performance

Shares of ALHC stock traded up $0.12 on Friday, hitting $11.76. The company had a trading volume of 3,724,000 shares, compared to its average volume of 2,984,283. The firm has a market cap of $2.33 billion, a P/E ratio of -24.50 and a beta of 1.16. The company has a 50-day moving average price of $14.14 and a 200-day moving average price of $15.32. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. Alignment Healthcare, Inc. has a twelve month low of $7.92 and a twelve month high of $21.06.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. The business had revenue of $926.93 million during the quarter, compared to analysts' expectations of $889.83 million. Alignment Healthcare had a negative return on equity of 80.49% and a negative net margin of 3.02%. The company's revenue for the quarter was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.25) EPS. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

ALHC has been the topic of several research reports. UBS Group raised their price objective on Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a report on Friday, May 2nd. Stifel Nicolaus lifted their target price 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 raised Alignment Healthcare to a "strong-buy" rating in a research report on Monday, June 2nd. Finally, Robert W. Baird lifted their target price 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 research analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $17.17.

Insiders Place Their Bets

In related news, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the company's stock in a transaction dated Monday, May 19th. The stock was 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 owned 44,302,175 shares of the company's stock, valued at approximately $676,937,234. This represents a 27.73% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the business'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 of the company's stock, valued at approximately $30,015,577.52. This trade represents a 1.43% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 17,685,262 shares of company stock worth $269,685,496. 7.00% of the stock is owned by company insiders.

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.