T. Rowe Price Investment Management Inc. Raises Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

T. Rowe Price Investment Management Inc. increased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 54.7% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 8,649,042 shares of the company's stock after acquiring an additional 3,059,596 shares during the quarter. T. Rowe Price Investment Management Inc. owned approximately 4.51% of Alignment Healthcare worth $97,302,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Price T Rowe Associates Inc. MD raised its position in Alignment Healthcare by 53.0% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,005,777 shares of the company's stock valued at $22,566,000 after purchasing an additional 694,761 shares during the last quarter. Dark Forest Capital Management LP bought a new stake in Alignment Healthcare during the fourth quarter worth about $150,000. Tower Research Capital LLC TRC grew its stake in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company's stock worth $119,000 after buying an additional 6,286 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of Alignment Healthcare by 5.6% during the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company's stock valued at $690,000 after acquiring an additional 3,256 shares in the last quarter. Finally, 1492 Capital Management LLC raised its holdings in Alignment Healthcare by 51.1% in the fourth quarter. 1492 Capital Management LLC now owns 108,670 shares of the company's stock worth $1,223,000 after buying an additional 36,755 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO John E. Kao sold 90,000 shares of the business's stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total transaction of $1,280,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,183,100 shares in the company, valued at $31,065,513. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 230,000 shares of Alignment Healthcare stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $19.10, for a total value of $4,393,000.00. Following the transaction, the president now owns 2,132,899 shares of the company's stock, valued at $40,738,370.90. The trade was a 9.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,156,855 shares of company stock valued at $34,744,307 in the last 90 days. Company insiders own 6.60% of the company's stock.

Alignment Healthcare Trading Down 1.7 %

Shares of ALHC stock traded down $0.30 on Tuesday, reaching $17.40. 1,406,179 shares of the company's stock were exchanged, compared to its average volume of 1,721,280. The stock has a market capitalization of $3.34 billion, a PE ratio of -22.59 and a beta of 1.32. Alignment Healthcare, Inc. has a 52 week low of $5.02 and a 52 week high of $21.06. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The company's fifty day simple moving average is $17.01 and its 200 day simple moving average is $14.16.

Analyst Ratings Changes

A number of research analysts have recently issued reports on ALHC shares. Barclays upped their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an "underweight" rating in a report on Friday, February 28th. Stephens reaffirmed an "overweight" rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. JPMorgan Chase & Co. upped their target price 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. Bank of America raised their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a research note on Tuesday, March 4th. Finally, Stifel Nicolaus upped their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the stock a "buy" rating in a report on Tuesday, April 8th. One 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 has a consensus rating of "Moderate Buy" and an average price target of $16.61.

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.