Sei Investments Co. Buys New Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Sei Investments Co. purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 83,875 shares of the company's stock, valued at approximately $944,000.

Several other large investors also recently made changes to their positions in the business. William Blair Investment Management LLC lifted its stake in Alignment Healthcare by 50.7% during the fourth quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company's stock valued at $33,442,000 after purchasing an additional 999,940 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in shares of Alignment Healthcare by 1,672.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company's stock valued at $7,591,000 after acquiring an additional 619,592 shares during the last quarter. Royce & Associates LP boosted its stake in shares of Alignment Healthcare by 144.3% during the 4th quarter. Royce & Associates LP now owns 781,680 shares of the company's stock worth $8,794,000 after acquiring an additional 461,680 shares in the last quarter. JPMorgan Chase & Co. grew its holdings in shares of Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company's stock worth $3,407,000 after acquiring an additional 205,705 shares during the last quarter. Finally, Principal Financial Group Inc. raised its position in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company's stock worth $2,294,000 after purchasing an additional 180,522 shares during the period. Institutional investors own 86.19% of the company's stock.

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Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. William Blair reiterated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Bank of America lifted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a "buy" rating in a research report on Tuesday, March 4th. Piper Sandler boosted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an "overweight" rating in a report on Tuesday, March 4th. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a research note on Tuesday. Finally, JPMorgan Chase & Co. boosted their target price on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research note on Thursday, March 6th. 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 issued a strong buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $15.39.

Alignment Healthcare Stock Down 0.2 %

ALHC traded down $0.04 during trading on Friday, reaching $19.74. 2,502,755 shares of the stock traded hands, compared to its average volume of 1,633,732. The stock's 50-day simple moving average is $16.14 and its two-hundred day simple moving average is $13.59. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a fifty-two week low of $4.66 and a fifty-two week high of $21.06. The stock has a market cap of $3.79 billion, a price-to-earnings ratio of -25.64 and a beta of 1.32.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 554,713 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the completion of the sale, the chief executive officer now owns 4,733,664 shares of the company's stock, valued at $73,513,801.92. This represents a 10.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 6,694 shares of the company's stock in a transaction on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total transaction of $109,781.60. Following the sale, the chief operating officer now directly owns 250,378 shares of the company's stock, valued at approximately $4,106,199.20. This represents a 2.60 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,981,855 shares of company stock valued at $30,590,612 in the last three months. Corporate insiders own 6.60% of the company's stock.

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.