Next Century Growth Investors LLC Invests $11.45 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Next Century Growth Investors LLC purchased a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 1,018,045 shares of the company's stock, valued at approximately $11,453,000. Next Century Growth Investors LLC owned approximately 0.53% of Alignment Healthcare at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the stock. State Street Corp increased its holdings in shares of Alignment Healthcare by 0.9% in the third quarter. State Street Corp now owns 2,252,287 shares of the company's stock worth $26,622,000 after purchasing an additional 20,731 shares during the period. Y Intercept Hong Kong Ltd bought a new position in shares of Alignment Healthcare in the third quarter worth approximately $523,000. Barclays PLC increased its holdings in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after buying an additional 114,191 shares during the last quarter. Geode Capital Management LLC boosted its position in Alignment Healthcare by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company's stock valued at $28,875,000 after acquiring an additional 32,839 shares in the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock worth $2,294,000 after acquiring an additional 180,522 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have issued reports on ALHC shares. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a report on Tuesday. Stephens reissued an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. 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 research note on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $16.61.

Alignment Healthcare Trading Down 5.5 %

Shares of ALHC traded down $1.07 during trading hours on Thursday, reaching $18.41. 4,249,688 shares of the company traded hands, compared to its average volume of 1,664,615. The firm has a market cap of $3.53 billion, a price-to-earnings ratio of -23.94 and a beta of 1.32. The stock's fifty day moving average price is $16.39 and its 200 day moving average price is $13.74. Alignment Healthcare, Inc. has a 12-month low of $4.80 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.

Insiders Place Their Bets

In related news, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total value of $1,719,000.00. Following the sale, the chief executive officer now owns 2,003,100 shares in the company, valued at $38,259,210. This represents a 4.30 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the sale, the president now owns 1,576,097 shares of the company's stock, valued at approximately $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,181,855 shares of company stock worth $35,118,912. 6.60% of the stock is owned by corporate 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.