Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Purchased by 1492 Capital Management LLC

1492 Capital Management LLC raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 51.1% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 108,670 shares of the company's stock after acquiring an additional 36,755 shares during the period. 1492 Capital Management LLC owned approximately 0.06% of Alignment Healthcare worth $1,223,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also recently modified their holdings of ALHC. R Squared Ltd bought a new stake in Alignment Healthcare during the 4th quarter valued at $55,000. Ballentine Partners LLC acquired a new position in Alignment Healthcare during the 4th quarter valued at about $121,000. Aigen Investment Management LP purchased a new stake in shares of Alignment Healthcare in the fourth quarter worth approximately $129,000. AlphaQuest LLC bought a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $132,000. Finally, TME Financial Inc. purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $175,000. Institutional investors own 86.19% of the company's stock.

Insider Activity at Alignment Healthcare

In related news, insider Hakan Kardes sold 14,500 shares of the company's stock in a transaction on Friday, January 24th. The shares were sold at an average price of $14.98, for a total transaction of $217,210.00. Following the sale, the insider now owns 295,444 shares of the company's stock, valued at $4,425,751.12. This represents a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO John E. Kao sold 554,713 shares of Alignment Healthcare stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at approximately $73,513,801.92. This trade represents a 10.49 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,171,355 shares of company stock valued at $34,961,517 over the last ninety days. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

Several research firms have recently issued reports on ALHC. Bank of America upped their target price 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. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Robert W. Baird increased their target price 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. Finally, Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. 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 data from MarketBeat, the stock has an average rating of "Moderate Buy" and an average price target of $16.61.

Alignment Healthcare Stock Up 0.8 %

Shares of NASDAQ:ALHC traded up $0.15 during trading on Wednesday, hitting $18.31. The stock had a trading volume of 620,737 shares, compared to its average volume of 1,688,578. Alignment Healthcare, Inc. has a 12 month low of $4.92 and a 12 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 firm's fifty day moving average is $16.69 and its 200 day moving average is $13.96. The company has a market capitalization of $3.51 billion, a PE ratio of -23.78 and a beta of 1.32.

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.