JPMorgan Chase & Co. Increases Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

JPMorgan Chase & Co. boosted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 249.3% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 288,219 shares of the company's stock after buying an additional 205,705 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.15% of Alignment Healthcare worth $3,407,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. nVerses Capital LLC acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $95,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare during the 3rd quarter worth approximately $131,000. Creative Planning increased its stake in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after acquiring an additional 2,072 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock valued at $286,000 after acquiring an additional 19,129 shares during the period. Finally, Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter valued at $315,000. Institutional investors and hedge funds own 86.19% of the company's stock.

Analyst Ratings Changes

ALHC has been the topic of several research reports. KeyCorp began coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a "sector weight" rating on the stock. Stephens reiterated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Thursday, January 2nd. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a "buy" rating in a report on Tuesday, January 14th. UBS Group increased their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Barclays lifted their price target on Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average target price of $11.88.

Insider Activity

In other news, Director Joseph S. Konowiecki sold 6,920 shares of the business's stock in a transaction on Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the completion of the transaction, the director now owns 1,134,888 shares in the company, valued at $15,582,012.24. The trade was a 0.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.35, for a total value of $340,500.00. Following the completion of the sale, the insider now owns 1,696,097 shares of the company's stock, valued at $19,250,700.95. The trade was a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 539,224 shares of company stock worth $6,808,290. Insiders own 6.60% of the company's stock.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC traded up $0.03 during trading hours on Friday, hitting $14.58. The company's stock had a trading volume of 1,873,020 shares, compared to its average volume of 1,154,769. The business has a 50-day simple moving average of $11.94 and a 200-day simple moving average of $10.78. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.79.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The business had revenue of $692.43 million for the quarter, compared to analysts' expectations of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm's revenue for the quarter was up 51.6% compared to the same quarter last year. During the same quarter in the previous year, the business posted ($0.19) earnings per share. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.