Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund raised its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 173.8% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 82,455 shares of the company's stock after purchasing an additional 52,337 shares during the period. New York State Common Retirement Fund's holdings in Alignment Healthcare were worth $928,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of ALHC. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter valued at $55,000. Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter worth approximately $121,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alignment Healthcare in the third quarter valued at approximately $131,000. Creative Planning grew its holdings in Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after purchasing an additional 2,072 shares during the period. Finally, Intech Investment Management LLC acquired a new position in Alignment Healthcare during the third quarter worth approximately $315,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Down 0.3 %

Shares of NASDAQ ALHC traded down $0.04 during trading on Friday, reaching $15.21. 698,690 shares of the stock were exchanged, compared to its average volume of 2,030,690. The business's 50-day moving average price is $13.89 and its 200 day moving average price is $12.14. The company has a market capitalization of $2.92 billion, a price-to-earnings ratio of -19.79 and a beta of 1.49. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $16.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

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Insiders Place Their Bets

In other news, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction that occurred on Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total transaction of $1,048,500.00. Following the completion of the sale, the chief executive officer now owns 2,363,100 shares of the company's stock, valued at approximately $27,530,115. This trade represents a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Robert Thomas Freeman sold 250,000 shares of the firm's stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total transaction of $3,895,000.00. Following the transaction, the chief financial officer now directly owns 1,635,849 shares of the company's stock, valued at approximately $25,486,527.42. This represents a 13.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,760,756 shares of company stock worth $26,490,627 in the last quarter. 6.60% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on the stock. Stephens reissued an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Piper Sandler boosted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday. Stifel Nicolaus raised their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Barclays lifted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a report on Thursday. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat, Alignment Healthcare presently has an average rating of "Moderate Buy" and a consensus price target of $14.83.

About Alignment Healthcare

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.