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The Manufacturers Life Insurance Company Raises Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Alignment Healthcare logo with Medical background

The Manufacturers Life Insurance Company grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 132.2% during the third quarter, according to the company in its most recent filing with the SEC. The fund owned 128,933 shares of the company's stock after acquiring an additional 73,402 shares during the quarter. The Manufacturers Life Insurance Company owned about 0.07% of Alignment Healthcare worth $1,524,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the business. nVerses Capital LLC purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at $95,000. Principal Financial Group Inc. grew its holdings in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company's stock worth $106,000 after purchasing an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alignment Healthcare during the third quarter worth about $131,000. Creative Planning grew its stake in Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company's stock worth $147,000 after buying an additional 2,072 shares during the last quarter. Finally, Mackenzie Financial Corp grew its stake in Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock worth $286,000 after buying an additional 19,129 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC traded up $0.12 during trading on Wednesday, hitting $11.73. 1,135,925 shares of the company were exchanged, compared to its average volume of 1,172,270. The company has a market cap of $2.25 billion, a price-to-earnings ratio of -15.08 and a beta of 1.42. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $14.25. The firm's fifty day moving average price is $11.95 and its 200 day moving average price is $10.03. 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 (NASDAQ:ALHC - Get Free Report) last released its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, hitting analysts' consensus estimates of ($0.14). The firm had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm's revenue was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.19) earnings per share. On average, sell-side analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the company. Stephens upgraded Alignment Healthcare from an "equal weight" rating to an "overweight" rating and raised their price target for the stock from $13.00 to $17.00 in a research note on Tuesday, December 3rd. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a "sector weight" rating on the stock. UBS Group raised their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 30th. Robert W. Baird raised their price target on Alignment Healthcare from $10.00 to $11.00 and gave the stock an "outperform" rating in a report on Wednesday, August 14th. Finally, Barclays raised their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an "underweight" rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $11.44.

View Our Latest Stock Report on ALHC

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total transaction of $323,100.00. Following the completion of the transaction, the insider now owns 1,726,097 shares in the company, valued at approximately $18,590,064.69. The trade was a 1.71 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Hakan Kardes sold 25,000 shares of the company's stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $11.48, for a total transaction of $287,000.00. Following the completion of the sale, the insider now directly owns 380,444 shares in the company, valued at $4,367,497.12. This trade represents a 6.17 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 603,046 shares of company stock valued at $7,287,508 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Alignment Healthcare Profile

(Free Report)

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.

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Institutional Ownership by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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