Renaissance Technologies LLC grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 15.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,769,500 shares of the company's stock after purchasing an additional 235,000 shares during the period. Renaissance Technologies LLC owned about 0.92% of Alignment Healthcare worth $19,907,000 at the end of the most recent quarter.
Other large investors have also added to or reduced their stakes in the company. Federated Hermes Inc. grew its holdings in shares of Alignment Healthcare by 33.2% during the fourth quarter. Federated Hermes Inc. now owns 532,555 shares of the company's stock worth $5,991,000 after purchasing an additional 132,635 shares during the last quarter. Dynamic Technology Lab Private Ltd bought a new position in Alignment Healthcare during the 4th quarter worth $443,000. Wells Fargo & Company MN grew its position in shares of Alignment Healthcare by 58.3% in the 4th quarter. Wells Fargo & Company MN now owns 48,813 shares of the company's stock valued at $549,000 after buying an additional 17,985 shares during the last quarter. Cinctive Capital Management LP bought a new position in shares of Alignment Healthcare during the fourth quarter worth about $336,000. Finally, Franklin Resources Inc. acquired a new stake in Alignment Healthcare during the 4th quarter valued at approximately $732,000. Institutional investors and hedge funds own 86.19% of the company's stock.
Analysts Set New Price Targets
Several research firms have recently weighed in on ALHC. Barclays increased their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research report on Friday, February 28th. Bank of America upped their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Robert W. Baird increased their price target on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a report on Tuesday. William Blair reaffirmed an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stephens restated an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $16.61.
Check Out Our Latest Research Report on Alignment Healthcare
Alignment Healthcare Price Performance
Alignment Healthcare stock traded down $1.24 during midday trading on Friday, hitting $18.24. 6,294,406 shares of the company's stock were exchanged, compared to its average volume of 1,676,082. The company has a market cap of $3.50 billion, a P/E ratio of -23.69 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a 50-day moving average price of $16.46 and a two-hundred day moving average price of $13.79. Alignment Healthcare, Inc. has a 52-week low of $4.90 and a 52-week high of $21.06.
Insider Buying and Selling at Alignment Healthcare
In other Alignment Healthcare news, insider Hakan Kardes sold 10,500 shares of the company's stock in a transaction dated Tuesday, January 21st. The shares were sold at an average price of $14.99, for a total transaction of $157,395.00. Following the completion of the sale, the insider now directly owns 309,944 shares in the company, valued at $4,646,060.56. This represents a 3.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the sale, the chief executive officer now owns 2,183,100 shares of the company's stock, valued at approximately $31,065,513. This represents a 3.96 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,181,855 shares of company stock worth $35,118,912 over the last three months. 6.60% of the stock is owned by insiders.
About Alignment Healthcare
(
Free Report)
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.
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