Royce & Associates LP Purchases Shares of 320,000 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Royce & Associates LP purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm purchased 320,000 shares of the company's stock, valued at approximately $3,782,000. Royce & Associates LP owned about 0.17% of Alignment Healthcare as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Alignment Healthcare during the first quarter worth $57,000. nVerses Capital LLC acquired a new stake in Alignment Healthcare during the 3rd quarter worth about $95,000. Principal Financial Group Inc. raised its position in shares of Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock worth $106,000 after acquiring an additional 2,077 shares in the last quarter. Creative Planning lifted its stake in shares of Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after purchasing an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp boosted its position in shares of Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock valued at $286,000 after purchasing an additional 19,129 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded down $0.07 on Tuesday, hitting $11.09. The company's stock had a trading volume of 3,829,277 shares, compared to its average volume of 1,130,420. 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 simple moving average of $11.67 and a 200 day simple moving average of $9.48. The company has a market capitalization of $2.13 billion, a PE ratio of -14.40 and a beta of 1.45. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $14.25.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts' consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million for the quarter, compared to analyst estimates of $662.11 million. During the same quarter in the prior year, the firm earned ($0.19) EPS. The business's revenue for the quarter was up 51.6% compared to the same quarter last year. Sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In related news, insider Hakan Kardes sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total transaction of $287,000.00. Following the transaction, the insider now owns 380,444 shares of the company's stock, valued at approximately $4,367,497.12. This trade represents a 6.17 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Robert Thomas Freeman sold 8,561 shares of Alignment Healthcare stock in a transaction on Wednesday, September 11th. The stock was sold at an average price of $10.01, for a total transaction of $85,695.61. Following the completion of the transaction, the chief financial officer now owns 399,429 shares in the company, valued at approximately $3,998,284.29. The trade was a 2.10 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 515,507 shares of company stock worth $6,158,835. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALHC shares. Piper Sandler reiterated an "overweight" rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Barclays upped their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a report on Wednesday, October 30th. UBS Group raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research note on Wednesday, October 30th. KeyCorp started coverage on Alignment Healthcare in a research note on Friday, October 11th. They set a "sector weight" rating on the stock. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus price target of $10.33.

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.