Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock Position Boosted by Intech Investment Management LLC

Intech Investment Management LLC lifted its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 65.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 44,018 shares of the company's stock after buying an additional 17,350 shares during the period. Intech Investment Management LLC's holdings in Alignment Healthcare were worth $495,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in ALHC. William Blair Investment Management LLC lifted its holdings in shares of Alignment Healthcare by 50.7% during the fourth quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company's stock worth $33,442,000 after purchasing an additional 999,940 shares during the period. Royce & Associates LP grew its position in shares of Alignment Healthcare by 144.3% in the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company's stock valued at $8,794,000 after purchasing an additional 461,680 shares during the last quarter. AlphaQuest LLC acquired a new position in shares of Alignment Healthcare in the fourth quarter worth $132,000. Raymond James Financial Inc. purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at $1,769,000. Finally, Aigen Investment Management LP acquired a new position in Alignment Healthcare in the 4th quarter valued at about $129,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Stock Up 0.9 %

Shares of ALHC traded up $0.17 during trading on Friday, reaching $18.30. The company's stock had a trading volume of 1,599,660 shares, compared to its average volume of 1,488,530. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $18.60. 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 company has a market cap of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49. The company has a fifty day moving average of $15.21 and a two-hundred day moving average of $12.91.

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Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on ALHC. Bank of America raised their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a report on Tuesday, March 4th. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Barclays increased their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a report on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company's stock. According to data from MarketBeat, Alignment Healthcare currently has an average rating of "Moderate Buy" and an average target price of $14.83.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 13,815 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total value of $233,335.35. Following the completion of the transaction, the chief financial officer now directly owns 1,482,595 shares in the company, valued at $25,041,029.55. The trade was a 0.92 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the transaction, the president now owns 1,606,097 shares of the company's stock, valued at $21,858,980.17. This represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 1,901,665 shares of company stock worth $29,141,513 in the last ninety days. 6.60% of the stock is owned by insiders.

Alignment Healthcare 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.