KLP Kapitalforvaltning AS Takes Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

KLP Kapitalforvaltning AS bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 17,200 shares of the company's stock, valued at approximately $194,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of ALHC. R Squared Ltd purchased a new stake in Alignment Healthcare during the fourth quarter valued at about $55,000. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $121,000. Aigen Investment Management LP bought a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $129,000. AlphaQuest LLC purchased a new stake in shares of Alignment Healthcare during the 4th quarter valued at approximately $132,000. Finally, Proficio Capital Partners LLC bought a new position in Alignment Healthcare in the 4th quarter worth approximately $184,000. 86.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on ALHC shares. Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. Bank of America raised their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research note on Tuesday, March 4th. Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research report on Tuesday. 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. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.39.

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Insiders Place Their Bets

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of the firm's stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the sale, the insider now owns 702,953 shares in the company, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Christopher J. Joyce sold 25,000 shares of the company's stock in a transaction dated Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total value of $461,750.00. Following the completion of the transaction, the insider now owns 415,022 shares of the company's stock, valued at $7,665,456.34. The trade was a 5.68 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,981,855 shares of company stock valued at $30,590,612 in the last quarter. Corporate insiders own 6.60% of the company's stock.

Alignment Healthcare Price Performance

Shares of ALHC stock traded down $0.04 during trading on Friday, hitting $19.74. The company had a trading volume of 2,502,755 shares, compared to its average volume of 1,633,732. The stock's 50-day moving average is $16.14 and its two-hundred day moving average is $13.59. The stock has a market capitalization of $3.79 billion, a price-to-earnings ratio of -25.64 and a beta of 1.32. 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 52 week low of $4.66 and a 52 week high of $21.06.

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.