Norges Bank Takes $3.39 Million Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Norges Bank bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund bought 300,957 shares of the company's stock, valued at approximately $3,386,000. Norges Bank owned about 0.16% of Alignment Healthcare at the end of the most recent reporting period.

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

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded up $0.36 on Wednesday, hitting $19.79. The company had a trading volume of 348,330 shares, compared to its average volume of 1,643,145. Alignment Healthcare, Inc. has a 52 week low of $4.71 and a 52 week high of $21.06. The company has a market cap of $3.80 billion, a PE ratio of -25.62 and a beta of 1.32. The business has a 50-day simple moving average of $16.29 and a 200-day simple moving average of $13.70. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

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Insider Buying and Selling at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total transaction of $461,750.00. Following the transaction, the insider now directly owns 415,022 shares of the company's stock, valued at approximately $7,665,456.34. The trade was a 5.68 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Hakan Kardes sold 10,500 shares of Alignment Healthcare stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $14.99, for a total transaction of $157,395.00. Following the sale, the insider now directly owns 309,944 shares of the company's stock, valued at $4,646,060.56. This trade represents a 3.28 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,861,855 shares of company stock valued at $29,006,912. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

ALHC has been the subject of a number of recent research reports. Robert W. Baird upped their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research note on Tuesday. Barclays boosted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a research note on Tuesday, April 8th. Finally, Stephens restated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of "Moderate Buy" and a consensus price target of $16.61.

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.