T. Rowe Price Investment Management Inc. Has $97.30 Million Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

T. Rowe Price Investment Management Inc. boosted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 54.7% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 8,649,042 shares of the company's stock after acquiring an additional 3,059,596 shares during the period. T. Rowe Price Investment Management Inc. owned about 4.51% of Alignment Healthcare worth $97,302,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the business. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter valued at $55,000. Tower Research Capital LLC TRC boosted its position in shares of Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC purchased a new stake in Alignment Healthcare in the fourth quarter valued at approximately $121,000. Aigen Investment Management LP acquired a new position in Alignment Healthcare during the fourth quarter worth approximately $129,000. Finally, AlphaQuest LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at $132,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

Alignment Healthcare stock traded up $0.34 during mid-day trading on Wednesday, hitting $17.77. 571,469 shares of the company's stock traded hands, compared to its average volume of 1,721,549. Alignment Healthcare, Inc. has a one year low of $5.02 and a one year high of $21.06. The company has a market cap of $3.41 billion, a PE ratio of -23.08 and a beta of 1.32. The firm has a 50 day moving average price of $17.07 and a 200 day moving average price of $14.18. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on ALHC. Barclays lifted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Bank of America boosted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Piper Sandler lifted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. Stephens reiterated an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to MarketBeat, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and an average price target of $16.61.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of the business's stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the sale, the insider now directly owns 702,953 shares in the company, valued at approximately $12,575,829.17. The trade was a 0.41 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao sold 554,713 shares of the 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 completion of the transaction, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at $73,513,801.92. This trade represents a 10.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,156,855 shares of company stock worth $34,744,307 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Alignment Healthcare 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.