Price T Rowe Associates Inc. MD Raises Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Price T Rowe Associates Inc. MD grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 53.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,005,777 shares of the company's stock after buying an additional 694,761 shares during the period. Price T Rowe Associates Inc. MD owned 1.05% of Alignment Healthcare worth $22,566,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in ALHC. Rhumbline Advisers lifted its stake in shares of 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. MetLife Investment Management LLC boosted its stake in Alignment Healthcare by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock worth $690,000 after buying an additional 3,256 shares during the period. Alliancebernstein L.P. increased its position in shares of Alignment Healthcare by 2.8% during the fourth 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 during the last quarter. R Squared Ltd purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $55,000. Finally, SG Americas Securities LLC lifted its holdings in shares of 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 acquiring an additional 5,163 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Insider Buying and Selling

In other Alignment Healthcare news, President Dawn Christine Maroney sold 230,000 shares of the stock in a transaction that occurred on Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the sale, the president now directly owns 2,132,899 shares of the company's stock, valued at approximately $40,738,370.90. This trade represents a 9.73 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction that occurred on Thursday, May 1st. The shares were sold at an average price of $16.87, for a total value of $421,750.00. Following the completion of the transaction, the insider now directly owns 390,022 shares in the company, valued at approximately $6,579,671.14. The trade was a 6.02 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,181,855 shares of company stock worth $35,166,057 in the last quarter. 6.60% of the stock is owned by insiders.

Alignment Healthcare Stock Down 1.7 %

Shares of NASDAQ:ALHC traded down $0.28 on Wednesday, hitting $15.45. 377,017 shares of the company's stock were exchanged, compared to its average volume of 1,817,026. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a 1-year low of $6.66 and a 1-year high of $21.06. The company has a market capitalization of $3.05 billion, a PE ratio of -20.04 and a beta of 1.32. The firm's 50-day moving average is $17.36 and its 200 day moving average is $14.35.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating 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 firm had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. During the same period last year, the firm posted ($0.25) EPS. The company's revenue was up 47.5% on a year-over-year basis. Sell-side analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analyst Ratings Changes

ALHC has been the topic of a number of research analyst reports. Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Friday, February 28th. UBS Group increased 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, May 2nd. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. JPMorgan Chase & Co. raised 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, Bank of America upped their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, Alignment Healthcare has an average rating of "Moderate Buy" and a consensus target price of $17.17.

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.