Arrowstreet Capital Limited Partnership raised its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 133.5% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 147,478 shares of the company's stock after purchasing an additional 84,315 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 0.08% of Alignment Healthcare worth $1,659,000 as of its most recent filing with the SEC.
A number of other institutional investors and hedge funds have also made changes to their positions in the business. Rhumbline Advisers increased its position in Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company's stock valued at $1,527,000 after acquiring an additional 2,937 shares during the period. R Squared Ltd acquired a new stake in shares of Alignment Healthcare during the fourth quarter worth $55,000. SG Americas Securities LLC grew its position in Alignment Healthcare by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company's stock valued at $554,000 after buying an additional 5,163 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Alignment Healthcare by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company's stock worth $9,540,000 after buying an additional 8,279 shares during the last quarter. Finally, Ballentine Partners LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $121,000. 86.19% of the stock is owned by hedge funds and other institutional investors.
Alignment Healthcare Trading Up 1.8 %
ALHC traded up $0.36 during midday trading on Wednesday, hitting $19.79. The company's stock had a trading volume of 348,330 shares, compared to its average volume of 1,643,168. The firm has a market cap of $3.80 billion, a P/E ratio of -25.62 and a beta of 1.32. Alignment Healthcare, Inc. has a 52-week low of $4.71 and a 52-week high of $21.06. 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 moving average price of $16.29 and a two-hundred day moving average price of $13.70.
Insider Buying and Selling at Alignment Healthcare
In other Alignment Healthcare news, insider Hakan Kardes sold 10,500 shares of the stock in a transaction that occurred on Tuesday, January 21st. The stock was sold at an average price of $14.99, for a total transaction of $157,395.00. Following the transaction, the insider now owns 309,944 shares of the company's stock, valued at $4,646,060.56. This trade represents a 3.28 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Robert L. Scavo sold 2,864 shares of the business's stock in a transaction that occurred on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the completion of the sale, the insider now owns 702,953 shares of the company's stock, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,861,855 shares of company stock valued at $29,006,912 over the last 90 days. 6.60% of the stock is owned by corporate insiders.
Analyst Ratings Changes
A number of equities research analysts have weighed in on ALHC shares. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday, March 6th. Bank of America upped their price target 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. Robert W. Baird boosted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday. Stifel Nicolaus increased their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Finally, Piper Sandler boosted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $16.61.
Read Our Latest Research Report on Alignment Healthcare
Alignment Healthcare Company Profile
(
Free Report)
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.
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