Allspring Global Investments Holdings LLC Boosts Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Allspring Global Investments Holdings LLC raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 1,672.5% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 656,637 shares of the company's stock after purchasing an additional 619,592 shares during the period. Allspring Global Investments Holdings LLC owned 0.34% of Alignment Healthcare worth $7,591,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors also recently bought and sold shares of the business. R Squared Ltd purchased a new stake in Alignment Healthcare during the fourth quarter worth about $55,000. SG Americas Securities LLC lifted its position in Alignment Healthcare by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock worth $554,000 after buying an additional 5,163 shares during the period. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth approximately $121,000. JPMorgan Chase & Co. grew its stake in shares of Alignment Healthcare by 249.3% during the 3rd 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 during the period. Finally, Principal Financial Group Inc. raised its holdings in shares of 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. 86.19% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total value of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares in the company, valued at approximately $27,530,115. The trade was a 3.67 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Sebastian Burzacchi sold 8,550 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the completion of the sale, the chief operating officer now owns 217,395 shares of the company's stock, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 476,002 shares of company stock worth $6,220,726 over the last quarter. Company insiders own 6.60% of the company's stock.

Wall Street Analysts Forecast Growth

ALHC has been the subject of a number of analyst reports. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. Barclays lifted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a research report on Wednesday, October 30th. Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Thursday, January 2nd. Finally, Stifel Nicolaus lifted their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a "buy" rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average price target of $11.88.

Alignment Healthcare Stock Down 8.4 %

Shares of NASDAQ ALHC traded down $1.21 during mid-day trading on Friday, hitting $13.17. The company had a trading volume of 2,613,574 shares, compared to its average volume of 1,629,284. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a 50-day simple moving average of $13.19 and a two-hundred day simple moving average of $11.76. The company has a market capitalization of $2.52 billion, a PE ratio of -17.10 and a beta of 1.50. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $15.82.

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.