Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Holdings Cut by Fmr LLC

FMR LLC lowered its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 1.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 16,987,349 shares of the company's stock after selling 201,375 shares during the quarter. FMR LLC owned about 8.86% of Alignment Healthcare worth $200,790,000 at the end of the most recent reporting period.

Other hedge funds have also made changes to their positions in the company. Virtu Financial LLC acquired a new stake in Alignment Healthcare during the 1st quarter worth approximately $57,000. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at approximately $95,000. Principal Financial Group Inc. lifted its holdings in shares of Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock valued at $106,000 after buying an additional 2,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at approximately $131,000. Finally, Creative Planning lifted its holdings in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after buying an additional 2,072 shares during the period. Hedge funds and other institutional investors own 86.19% of the company's stock.

Insider Activity at Alignment Healthcare

In related news, Director Joseph S. Konowiecki sold 6,920 shares of the firm's stock in a transaction that occurred on Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the sale, the director now directly owns 1,134,888 shares in the company, valued at $15,582,012.24. This trade represents a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 8,561 shares of the firm's stock in a transaction that occurred on Wednesday, September 11th. The shares were sold at an average price of $10.01, for a total value of $85,695.61. Following the completion of the sale, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. This represents a 2.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 543,433 shares of company stock valued at $6,543,028. Insiders own 6.60% of the company's stock.

Alignment Healthcare Stock Up 0.2 %

Shares of NASDAQ ALHC traded up $0.03 on Tuesday, hitting $12.87. The company had a trading volume of 661,826 shares, compared to its average volume of 1,150,043. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $14.25. The business has a 50 day moving average of $11.81 and a two-hundred day moving average of $9.79. 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 has a market capitalization of $2.47 billion, a P/E ratio of -16.68 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts' consensus estimates of ($0.14). The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare's revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.19) earnings per share. As a group, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

ALHC has been the topic of a number of research analyst reports. KeyCorp initiated coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a "sector weight" rating on the stock. UBS Group boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Robert W. Baird boosted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. TD Cowen upped their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a "buy" rating in a research note on Tuesday, August 6th. Finally, Piper Sandler reiterated an "overweight" rating and issued a $10.00 target price (up from $8.00) on shares of Alignment Healthcare in a research note on Tuesday, August 6th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average target price of $11.44.

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.