Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Bought by Wellington Management Group LLP

Wellington Management Group LLP boosted its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 77.9% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 7,438,500 shares of the company's stock after acquiring an additional 3,257,630 shares during the period. Wellington Management Group LLP owned 3.88% of Alignment Healthcare worth $83,683,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently added to or reduced their stakes in ALHC. R Squared Ltd acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $55,000. Ballentine Partners LLC acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $121,000. Aigen Investment Management LP acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $129,000. AlphaQuest LLC acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $132,000. Finally, Proficio Capital Partners LLC acquired a new stake in Alignment Healthcare in the 4th quarter valued at about $184,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Trading Up 5.0 %

NASDAQ ALHC traded up $0.92 during mid-day trading on Thursday, hitting $19.46. The company's stock had a trading volume of 1,271,151 shares, compared to its average volume of 1,610,891. Alignment Healthcare, Inc. has a 52-week low of $4.62 and a 52-week high of $21.06. The stock's fifty day simple moving average is $15.96 and its two-hundred day simple moving average is $13.47. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The firm has a market capitalization of $3.73 billion, a P/E ratio of -25.38 and a beta of 1.32.

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Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares of the company's stock, valued at $29,686,686. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Christopher J. Joyce sold 25,000 shares of the stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the insider now directly owns 415,022 shares of the company's stock, valued at $7,665,456.34. This trade represents a 5.68 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,981,855 shares of company stock worth $30,590,612. Company insiders own 6.60% of the company's stock.

Analyst Ratings Changes

A number of research firms have issued reports on ALHC. Barclays upped 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. Piper Sandler upped their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Bank of America upped their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Finally, Stifel Nicolaus increased their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday. 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. Based on data from MarketBeat, Alignment Healthcare has a consensus rating of "Moderate Buy" and a consensus price target of $15.39.

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.