Next Century Growth Investors LLC Invests $11.45 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Next Century Growth Investors LLC purchased a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 1,018,045 shares of the company's stock, valued at approximately $11,453,000. Next Century Growth Investors LLC owned about 0.53% of Alignment Healthcare at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in Alignment Healthcare by 0.9% during the third quarter. State Street Corp now owns 2,252,287 shares of the company's stock valued at $26,622,000 after purchasing an additional 20,731 shares during the last quarter. Y Intercept Hong Kong Ltd purchased a new stake in shares of Alignment Healthcare during the 3rd quarter valued at approximately $523,000. Barclays PLC boosted its holdings in Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company's stock worth $2,287,000 after buying an additional 114,191 shares during the period. Geode Capital Management LLC grew its stake in Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company's stock valued at $28,875,000 after buying an additional 32,839 shares in the last quarter. Finally, Principal Financial Group Inc. raised its holdings in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock valued at $2,294,000 after acquiring an additional 180,522 shares during the period. Institutional investors own 86.19% of the company's stock.

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Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded up $0.05 during trading on Wednesday, reaching $19.48. The company had a trading volume of 2,996,871 shares, compared to its average volume of 1,653,351. The company has a fifty day moving average of $16.29 and a two-hundred day moving average of $13.70. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock has a market capitalization of $3.74 billion, a P/E ratio of -25.30 and a beta of 1.32. Alignment Healthcare, Inc. has a 12 month low of $4.71 and a 12 month high of $21.06.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, COO Sebastian Burzacchi sold 6,694 shares of the company's stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the completion of the sale, the chief operating officer now owns 250,378 shares of the company's stock, valued at $4,106,199.20. This represents a 2.60 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total transaction of $411,600.00. Following the transaction, the president now owns 1,576,097 shares in the company, valued at $21,624,050.84. The trade was a 1.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,861,855 shares of company stock worth $29,006,912 over the last 90 days. Corporate insiders own 6.60% of the company's stock.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of analyst reports. Stifel Nicolaus raised their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. Piper Sandler lifted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Robert W. Baird upped their price target on Alignment Healthcare from $17.00 to $22.00 and gave the company an "outperform" rating in a research report on Tuesday. Bank of America raised their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research report on Tuesday, March 4th. Finally, Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and an average price target of $16.61.

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.