Quantbot Technologies LP Purchases Shares of 148,438 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Quantbot Technologies LP acquired a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 148,438 shares of the company's stock, valued at approximately $1,670,000. Quantbot Technologies LP owned 0.08% of Alignment Healthcare at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently modified their holdings of ALHC. William Blair Investment Management LLC boosted its position in Alignment Healthcare by 50.7% during the 4th quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company's stock worth $33,442,000 after acquiring an additional 999,940 shares during the last quarter. Allspring Global Investments Holdings LLC grew its position in Alignment Healthcare by 1,672.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company's stock valued at $7,591,000 after purchasing an additional 619,592 shares in the last quarter. Royce & Associates LP grew its position in Alignment Healthcare by 144.3% in the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company's stock valued at $8,794,000 after purchasing an additional 461,680 shares in the last quarter. JPMorgan Chase & Co. increased its stake in Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock valued at $3,407,000 after buying an additional 205,705 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its position 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 worth $2,294,000 after buying an additional 180,522 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America lifted 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. Stephens reiterated an "overweight" rating and issued a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Stifel Nicolaus boosted their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research report on Friday, February 28th. Finally, Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research note on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and an average target price of $14.83.

Alignment Healthcare Stock Performance

ALHC traded up $0.17 during trading on Friday, hitting $18.30. The stock had a trading volume of 1,599,660 shares, compared to its average volume of 1,491,362. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The company has a 50 day moving average price of $15.21 and a 200-day moving average price of $12.91. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $18.60. The firm has a market cap of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49.

Insider Transactions at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of the business's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the sale, the president now owns 1,606,097 shares in the company, valued at $21,858,980.17. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the transaction, the chief executive officer now directly owns 2,273,100 shares of the company's stock, valued at $29,686,686. This represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 1,901,665 shares of company stock valued at $29,141,513. 6.60% of the stock is currently owned by company insiders.

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.