Royce & Associates LP Purchases 461,680 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Royce & Associates LP raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 144.3% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 781,680 shares of the company's stock after buying an additional 461,680 shares during the period. Royce & Associates LP owned about 0.41% of Alignment Healthcare worth $8,794,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. R Squared Ltd acquired a new position in Alignment Healthcare in the fourth quarter worth approximately $55,000. Ballentine Partners LLC bought a new stake in Alignment Healthcare in the fourth quarter worth approximately $121,000. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the 4th quarter worth $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare during the 3rd quarter valued at $131,000. Finally, AlphaQuest LLC acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at $132,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Andreas P. Wagner sold 7,632 shares of the business's stock in a transaction on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $125,164.80. Following the sale, the insider now owns 223,474 shares of the company's stock, valued at $3,664,973.60. The trade was a 3.30 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares of the company's stock, valued at $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 1,901,665 shares of company stock valued at $29,141,513 in the last quarter. Corporate insiders own 6.60% of the company's stock.

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Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Barclays raised their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stifel Nicolaus increased their price target on Alignment Healthcare from $16.00 to $18.00 and gave the company a "buy" rating in a report on Friday, February 28th. Piper Sandler lifted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a research report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Alignment Healthcare has an average rating of "Moderate Buy" and a consensus target price of $14.83.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC traded up $0.43 during mid-day trading on Friday, hitting $17.61. The company had a trading volume of 3,358,496 shares, compared to its average volume of 1,424,967. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $17.76. The firm has a market cap of $3.38 billion, a P/E ratio of -22.87 and a beta of 1.49. The business's 50-day simple moving average is $14.90 and its 200-day simple moving average is $12.69. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

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.