Vanguard Group Inc. Raises Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Vanguard Group Inc. lifted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 1.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 9,818,071 shares of the company's stock after acquiring an additional 166,837 shares during the period. Vanguard Group Inc. owned 5.12% of Alignment Healthcare worth $110,453,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Simplify Asset Management Inc. acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at about $1,494,000. KLP Kapitalforvaltning AS purchased a new stake in Alignment Healthcare in the fourth quarter valued at approximately $194,000. Sei Investments Co. acquired a new position in Alignment Healthcare in the 4th quarter worth approximately $944,000. Quantbot Technologies LP purchased a new position in Alignment Healthcare during the 4th quarter worth approximately $1,670,000. Finally, Teacher Retirement System of Texas acquired a new stake in Alignment Healthcare during the 4th quarter valued at approximately $255,000. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Price Performance

Shares of ALHC stock traded down $0.04 on Friday, reaching $19.74. 2,502,755 shares of the company were exchanged, compared to its average volume of 1,638,063. Alignment Healthcare, Inc. has a 1 year low of $4.66 and a 1 year high of $21.06. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The business has a 50-day moving average price of $16.14 and a 200 day moving average price of $13.61. The company has a market cap of $3.79 billion, a price-to-earnings ratio of -25.64 and a beta of 1.32.

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Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 554,713 shares of the firm's stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the transaction, the chief executive officer now owns 4,733,664 shares in the company, valued at approximately $73,513,801.92. This trade represents a 10.49 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the company's stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the sale, the president now directly owns 1,606,097 shares of the company's stock, valued at $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 1,981,855 shares of company stock worth $30,590,612. Corporate insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

ALHC has been the topic of a number of research reports. Stephens reissued an "overweight" rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the company a "buy" rating in a report on Tuesday, April 8th. Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an "overweight" rating in a report on Tuesday, March 4th. William Blair reissued an "outperform" rating on shares of Alignment Healthcare in a report on Friday, February 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a "neutral" rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, Alignment Healthcare currently has a consensus rating of "Moderate Buy" and a consensus price target of $15.39.

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.