Cinctive Capital Management LP acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 29,902 shares of the company's stock, valued at approximately $336,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the company. R Squared Ltd purchased a new stake in shares of Alignment Healthcare in the 4th quarter worth $55,000. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $121,000. Aigen Investment Management LP bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at about $129,000. AlphaQuest LLC purchased a new stake in Alignment Healthcare in the fourth quarter worth about $132,000. Finally, Proficio Capital Partners LLC purchased a new position in Alignment Healthcare during the 4th quarter valued at about $184,000. Institutional investors own 86.19% of the company's stock.
Insider Activity at Alignment Healthcare
In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the business's stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the completion of the transaction, the insider now directly owns 200,885 shares of the company's stock, valued at approximately $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction 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 transaction, the insider now owns 415,022 shares of the company's stock, valued at approximately $7,665,456.34. This represents a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,981,855 shares of company stock valued at $30,590,612 in the last ninety days. Company insiders own 6.60% of the company's stock.
Alignment Healthcare Stock Performance
Shares of NASDAQ ALHC traded down $0.41 during midday trading on Wednesday, reaching $18.54. The company had a trading volume of 4,776,361 shares, compared to its average volume of 1,610,538. Alignment Healthcare, Inc. has a 1 year low of $4.62 and a 1 year high of $21.06. The business's 50-day simple moving average is $15.96 and its 200 day simple moving average is $13.47. 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 stock has a market cap of $3.56 billion, a P/E ratio of -24.08 and a beta of 1.32.
Analyst Upgrades and Downgrades
Several brokerages have recently weighed in on ALHC. Piper Sandler upped their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a research 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 lifted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, Stephens reiterated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and an average price target of $15.39.
Get Our Latest Stock Analysis on Alignment Healthcare
About Alignment Healthcare
(
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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