Simplify Asset Management Inc. Takes $1.49 Million Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Simplify Asset Management Inc. purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 132,774 shares of the company's stock, valued at approximately $1,494,000. Simplify Asset Management Inc. owned approximately 0.07% of Alignment Healthcare at the end of the most recent quarter.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Principal Financial Group Inc. grew its stake 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 during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $131,000. Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the third quarter worth approximately $315,000. Charles Schwab Investment Management Inc. grew its holdings in Alignment Healthcare by 1.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company's stock worth $9,925,000 after buying an additional 13,865 shares in the last quarter. Finally, Algert Global LLC grew its holdings in Alignment Healthcare by 44.8% in the 3rd quarter. Algert Global LLC now owns 80,903 shares of the company's stock worth $956,000 after buying an additional 25,050 shares in the last quarter. Institutional investors own 86.19% of the company's stock.

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Alignment Healthcare Trading Up 3.0 %

Shares of NASDAQ:ALHC traded up $0.53 during midday trading on Thursday, reaching $18.13. The company had a trading volume of 2,714,841 shares, compared to its average volume of 1,446,798. The company has a fifty day simple moving average of $15.21 and a two-hundred day simple moving average of $12.91. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -23.55 and a beta of 1.49. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $19.08. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Analysts Set New Price Targets

Several brokerages have weighed in on ALHC. Stephens reaffirmed an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a research note on Monday, February 24th. Stifel Nicolaus upped their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a report on Friday, February 28th. Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a report on Friday, February 28th. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a research note 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 report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, Alignment Healthcare presently has a consensus rating of "Moderate Buy" and a consensus price target of $14.83.

Insiders Place Their Bets

In other news, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares of the company's stock, valued at $29,686,686. This trade represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the transaction, the president now directly owns 1,606,097 shares in the company, valued at $21,858,980.17. The trade was a 1.83 % 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 worth $29,141,513 over the last ninety days. 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.