Invesco Ltd. Lowers Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Invesco Ltd. reduced its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 77.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 123,757 shares of the company's stock after selling 431,529 shares during the period. Invesco Ltd. owned 0.06% of Alignment Healthcare worth $1,392,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of ALHC. Rhumbline Advisers lifted its stake in Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock valued at $1,527,000 after purchasing an additional 2,937 shares during the last quarter. Alliancebernstein L.P. boosted its holdings in shares of Alignment Healthcare by 2.8% during the 4th quarter. Alliancebernstein L.P. now owns 119,440 shares of the company's stock valued at $1,344,000 after acquiring an additional 3,300 shares in the last quarter. R Squared Ltd bought a new stake in Alignment Healthcare during the 4th quarter worth $55,000. SG Americas Securities LLC increased its holdings in Alignment Healthcare by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock worth $554,000 after purchasing an additional 5,163 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in Alignment Healthcare by 1.0% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company's stock valued at $9,540,000 after purchasing an additional 8,279 shares during the last quarter. 86.19% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 554,713 shares of the business's stock in a transaction that occurred on Thursday, March 6th. The shares were sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the sale, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at approximately $73,513,801.92. The trade was a 10.49 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the completion of the transaction, the president now owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. This trade represents a 1.87 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 2,181,855 shares of company stock valued at $35,166,057 over the last three months. 6.60% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on ALHC. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. UBS Group boosted their price target on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a "neutral" rating in a research report on Friday. Robert W. Baird lifted their target price on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday, April 15th. JPMorgan Chase & Co. upped their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Finally, Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research report on Tuesday, March 4th. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $17.17.

Alignment Healthcare Price Performance

Shares of ALHC stock traded down $1.24 on Friday, reaching $15.53. The company's stock had a trading volume of 13,031,885 shares, compared to its average volume of 1,812,743. The stock's fifty day simple moving average is $17.27 and its 200-day simple moving average is $14.29. Alignment Healthcare, Inc. has a 1 year low of $6.37 and a 1 year high of $21.06. The company has a market capitalization of $3.07 billion, a price-to-earnings ratio of -20.17 and a beta of 1.32. 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 released its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share for the quarter, beating the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. During the same quarter in the previous year, the company posted ($0.25) EPS. The company's revenue for the quarter was up 47.5% compared to the same quarter last year. Analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.