Blue Trust Inc. Lowers Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Blue Trust Inc. trimmed its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 51.9% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 123,694 shares of the company's stock after selling 133,263 shares during the period. Blue Trust Inc. owned approximately 0.06% of Alignment Healthcare worth $1,462,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. nVerses Capital LLC bought a new stake in Alignment Healthcare during the 3rd quarter valued at $95,000. Creative Planning grew its holdings in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after buying an additional 2,072 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Alignment Healthcare during the third quarter worth about $521,000. Mackenzie Financial Corp raised its holdings in shares of Alignment Healthcare by 110.0% in the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock worth $286,000 after acquiring an additional 19,129 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its position in Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company's stock valued at $434,000 after acquiring an additional 9,595 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

Shares of ALHC traded down $0.55 during mid-day trading on Friday, hitting $10.88. The stock had a trading volume of 1,215,293 shares, compared to its average volume of 1,016,018. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $12.36. The company has a debt-to-equity ratio of 1.70, a current ratio of 1.61 and a quick ratio of 1.61. The business has a fifty day moving average price of $10.28 and a 200-day moving average price of $8.38. The firm has a market cap of $2.08 billion, a P/E ratio of -12.95 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, beating the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The business had revenue of $681.29 million for the quarter, compared to the consensus estimate of $637.66 million. During the same period in the prior year, the firm earned ($0.15) earnings per share. The company's revenue was up 47.3% compared to the same quarter last year. On average, equities research analysts expect that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

Insider Buying and Selling at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 39,320 shares of the stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total value of $473,412.80. Following the sale, the chief financial officer now directly owns 194,609 shares of the company's stock, valued at approximately $2,343,092.36. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, CFO Robert Thomas Freeman sold 39,320 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total value of $473,412.80. Following the sale, the chief financial officer now owns 194,609 shares in the company, valued at approximately $2,343,092.36. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 7,074 shares of the firm's stock in a transaction dated Thursday, August 22nd. The shares were sold at an average price of $9.02, for a total value of $63,807.48. Following the completion of the sale, the insider now directly owns 1,789,023 shares in the company, valued at approximately $16,136,987.46. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 314,940 shares of company stock valued at $3,487,014 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

ALHC has been the subject of a number of recent research reports. Robert W. Baird boosted their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. KeyCorp started coverage on Alignment Healthcare in a research note on Friday, October 11th. They set a "sector weight" rating on the stock. TD Cowen upped their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a "buy" rating in a research note on Tuesday, August 6th. Stifel Nicolaus raised their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a "buy" rating in a research report on Friday, July 26th. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the company an "underweight" rating in a research note on Monday, August 5th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and a consensus target price of $9.83.

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.