Wells Fargo & Company MN Increases Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Wells Fargo & Company MN raised its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 58.3% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 48,813 shares of the company's stock after acquiring an additional 17,985 shares during the quarter. Wells Fargo & Company MN's holdings in Alignment Healthcare were worth $549,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of the business. Barclays PLC grew its holdings in Alignment Healthcare by 144.1% during the third quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after purchasing an additional 114,191 shares during the period. Principal Financial Group Inc. increased its holdings in 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. JPMorgan Chase & Co. increased its holdings in Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock worth $3,407,000 after acquiring an additional 205,705 shares in the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the 4th quarter worth approximately $121,000. Finally, SG Americas Securities LLC raised its stake in Alignment Healthcare by 11.7% during 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 period. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Trading Down 0.2 %

NASDAQ:ALHC traded down $0.03 during mid-day trading on Thursday, hitting $15.49. 160,176 shares of the stock traded hands, compared to its average volume of 2,730,108. 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 stock has a market capitalization of $3.06 billion, a price-to-earnings ratio of -20.12 and a beta of 1.32. Alignment Healthcare, Inc. has a 52 week low of $6.66 and a 52 week high of $21.06. The firm's 50 day moving average is $17.36 and its two-hundred day moving average is $14.36.

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 for the quarter, topping 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 period in the prior year, the business posted ($0.25) earnings per share. The company's revenue for the quarter was up 47.5% on a year-over-year basis. On average, equities research analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction 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 sale, the president now directly owns 1,576,097 shares of the company's stock, valued at $21,624,050.84. The trade was a 1.87 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher J. Joyce sold 25,000 shares of the stock in a transaction on Thursday, May 1st. The stock was sold at an average price of $16.87, for a total value of $421,750.00. Following the transaction, the insider now directly owns 390,022 shares in the company, valued at $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 valued at $35,166,057 in the last 90 days. Company insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ALHC shares. Bank of America increased their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. JPMorgan Chase & Co. increased their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research report on Thursday, March 6th. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. Finally, Robert W. Baird lifted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday, April 15th. One equities research 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's stock. Based on data from MarketBeat.com, Alignment Healthcare currently has an average rating of "Moderate Buy" and a consensus target price of $17.17.

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.