Rhenman & Partners Asset Management AB Sells 216,171 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Rhenman & Partners Asset Management AB lowered its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 10.9% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,761,192 shares of the company's stock after selling 216,171 shares during the quarter. Alignment Healthcare makes up about 2.0% of Rhenman & Partners Asset Management AB's investment portfolio, making the stock its 16th largest position. Rhenman & Partners Asset Management AB owned approximately 0.92% of Alignment Healthcare worth $19,813,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in ALHC. Verition Fund Management LLC raised its position in shares of Alignment Healthcare by 85.3% during the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company's stock valued at $1,432,000 after acquiring an additional 55,771 shares during the last quarter. JPMorgan Chase & Co. lifted its stake in Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock valued at $3,407,000 after buying an additional 205,705 shares in the last quarter. Principal Financial Group Inc. boosted its stake 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 purchasing an additional 180,522 shares during the period. The Manufacturers Life Insurance Company boosted its position in Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company's stock worth $1,524,000 after acquiring an additional 73,402 shares during the last quarter. Finally, Barclays PLC increased its stake in Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock valued at $2,287,000 after buying an additional 114,191 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

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Insider Activity at Alignment Healthcare

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

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on ALHC. JPMorgan Chase & Co. upped their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. Bank of America lifted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus boosted their price target on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday. Barclays raised 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. Finally, William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $15.39.

Alignment Healthcare Trading Up 5.0 %

NASDAQ:ALHC traded up $0.94 on Thursday, reaching $19.48. 2,016,852 shares of the stock traded hands, compared to its average volume of 1,613,410. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 1-year low of $4.62 and a 1-year high of $21.06. The company's 50 day moving average is $15.96 and its 200-day moving average is $13.47. The firm has a market capitalization of $3.74 billion, a price-to-earnings ratio of -25.31 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.