TME Financial Inc. Purchases New Shares in Alignment Healthcare, Inc. (NASDAQ:ALHC)

TME Financial Inc. acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 14,779 shares of the company's stock, valued at approximately $175,000.

Several other large investors also recently added to or reduced their stakes in ALHC. R Squared Ltd bought a new position in shares of Alignment Healthcare during the 4th quarter valued at $55,000. Ballentine Partners LLC purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $121,000. Aigen Investment Management LP bought a new position in Alignment Healthcare in the 4th quarter worth about $129,000. AlphaQuest LLC bought a new stake in shares of Alignment Healthcare in the 4th quarter worth $132,000. Finally, Proficio Capital Partners LLC bought a new position in Alignment Healthcare during the fourth quarter valued at approximately $184,000. Institutional investors own 86.19% of the company's stock.

Alignment Healthcare Stock Down 6.4 %

Alignment Healthcare stock traded down $1.24 during midday trading on Friday, hitting $18.24. 6,294,406 shares of the company's stock were exchanged, compared to its average volume of 1,676,082. Alignment Healthcare, Inc. has a 12 month low of $4.90 and a 12 month high of $21.06. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $3.50 billion, a PE ratio of -23.69 and a beta of 1.32. The firm has a 50-day moving average of $16.46 and a two-hundred day moving average of $13.79.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total value of $1,280,700.00. Following the transaction, the chief executive officer now owns 2,183,100 shares of the company's stock, valued at $31,065,513. The trade was a 3.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, President Dawn Christine Maroney sold 230,000 shares of the firm's stock in a transaction that occurred on Monday, April 14th. The shares were 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 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 ownership of the stock. The disclosure for this sale can be found here. Insiders sold 2,181,855 shares of company stock valued at $35,118,912 over the last 90 days. Corporate insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ALHC shares. Barclays lifted 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. Stephens reissued an "overweight" rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. Robert W. Baird boosted their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday. Finally, William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $16.61.

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.