Hood River Capital Management LLC Has $55.72 Million Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Hood River Capital Management LLC raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 39.6% during the 4th quarter, according to the company in its most recent filing with the SEC. The firm owned 4,952,995 shares of the company's stock after purchasing an additional 1,405,212 shares during the quarter. Hood River Capital Management LLC owned 2.58% of Alignment Healthcare worth $55,721,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the stock. R Squared Ltd bought a new position in Alignment Healthcare during the fourth quarter valued at about $55,000. Tower Research Capital LLC TRC increased its position 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 valued at $119,000 after purchasing an additional 6,286 shares during the period. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at $121,000. Aigen Investment Management LP bought a new position in Alignment Healthcare in the fourth quarter worth $129,000. Finally, AlphaQuest LLC acquired a new stake in Alignment Healthcare during the fourth quarter worth $132,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Price Performance

ALHC traded down $0.17 during midday trading on Monday, hitting $17.35. The company had a trading volume of 606,511 shares, compared to its average volume of 1,714,717. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $3.33 billion, a PE ratio of -22.57 and a beta of 1.32. The firm's 50-day simple moving average is $16.94 and its 200-day simple moving average is $14.12. Alignment Healthcare, Inc. has a twelve month low of $5.02 and a twelve month high of $21.06.

Analyst Ratings Changes

A number of equities analysts have recently commented on ALHC shares. Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. Barclays lifted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Robert W. Baird increased 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. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus price target of $16.61.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total value of $1,280,700.00. Following the transaction, the chief executive officer now directly owns 2,183,100 shares in the company, valued at $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the firm's stock in a transaction on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the transaction, the president now owns 1,576,097 shares in the company, valued at $21,624,050.84. This represents a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,156,855 shares of company stock valued at $34,744,307. 6.60% of the stock is currently owned by corporate insiders.

About Alignment Healthcare

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.