Teacher Retirement System of Texas Invests $255,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Teacher Retirement System of Texas purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm purchased 22,692 shares of the company's stock, valued at approximately $255,000.

A number of other large investors have also recently made changes to their positions in ALHC. William Blair Investment Management LLC boosted its holdings in Alignment Healthcare by 50.7% in 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. Geode Capital Management LLC lifted its holdings in shares of Alignment Healthcare by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company's stock valued at $28,875,000 after buying an additional 32,839 shares during the period. State Street Corp boosted its stake in shares of Alignment Healthcare by 0.9% in the third quarter. State Street Corp now owns 2,252,287 shares of the company's stock worth $26,622,000 after buying an additional 20,731 shares during the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Alignment Healthcare by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company's stock worth $9,540,000 after acquiring an additional 8,279 shares during the period. Finally, Royce & Associates LP raised its position in Alignment Healthcare by 144.3% during the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company's stock valued at $8,794,000 after acquiring an additional 461,680 shares in the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

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Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock traded down $0.40 during mid-day trading on Friday, reaching $18.11. 4,682,324 shares of the stock traded hands, compared to its average volume of 1,549,162. The business has a 50-day moving average of $15.64 and a 200 day moving average of $13.25. Alignment Healthcare, Inc. has a fifty-two week low of $4.62 and a fifty-two week high of $18.97. The stock has a market capitalization of $3.47 billion, a PE ratio of -23.52 and a beta of 1.32. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the sale, the president now owns 1,606,097 shares in the company, valued at approximately $21,858,980.17. This represents a 1.83 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at $29,686,686. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,981,855 shares of company stock worth $30,590,612. Corporate insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Stifel Nicolaus raised their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a "buy" rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a "neutral" rating in a research report on Thursday, March 6th. Bank of America lifted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a "buy" rating in a report on Tuesday, March 4th. Barclays increased their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an "underweight" rating in a research note on Friday, February 28th. Finally, Stephens restated an "overweight" rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $14.83.

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.