Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Holdings Lifted by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company increased its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 63.3% during the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 210,544 shares of the company's stock after purchasing an additional 81,611 shares during the period. The Manufacturers Life Insurance Company owned 0.11% of Alignment Healthcare worth $2,369,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. R Squared Ltd purchased a new stake in shares of Alignment Healthcare in the 4th quarter valued at $55,000. RiverPark Advisors LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter worth about $106,000. Tower Research Capital LLC TRC raised its position in 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 acquiring an additional 6,286 shares in the last quarter. Ballentine Partners LLC acquired a new position in Alignment Healthcare in the fourth quarter valued at approximately $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $129,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

Alignment Healthcare Trading Up 6.1%

NASDAQ:ALHC traded up $0.86 during trading hours on Wednesday, reaching $14.91. 3,969,031 shares of the stock were exchanged, compared to its average volume of 1,853,599. Alignment Healthcare, Inc. has a twelve month low of $6.82 and a twelve month high of $21.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The business has a 50-day moving average of $17.30 and a two-hundred day moving average of $14.50. The company has a market capitalization of $2.95 billion, a price-to-earnings ratio of -19.36 and a beta of 1.32.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 company had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same period in the prior year, the firm earned ($0.25) earnings per share. The business's revenue for the quarter was up 47.5% compared to the same quarter last year. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Activity

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of Alignment Healthcare stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the sale, the insider now directly owns 702,953 shares of the company's stock, valued at approximately $12,575,829.17. The trade was a 0.41% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO John E. Kao sold 554,713 shares of the business's stock in a transaction dated Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the transaction, the chief executive officer now owns 4,733,664 shares in the company, valued at approximately $73,513,801.92. This represents a 10.49% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 2,196,977 shares of company stock valued at $35,453,111. 7.00% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of research analysts have weighed in on ALHC shares. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. lifted their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. UBS Group lifted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the company a "neutral" rating in a research report on Friday, May 2nd. Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Piper Sandler increased their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target 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.