Walleye Capital LLC Raises Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Walleye Capital LLC grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 142.2% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 178,110 shares of the company's stock after buying an additional 104,565 shares during the quarter. Walleye Capital LLC owned approximately 0.09% of Alignment Healthcare worth $2,105,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Deerfield Management Company L.P. Series C increased its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company's stock valued at $85,250,000 after buying an additional 2,630,788 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company's stock worth $45,828,000 after purchasing an additional 93,262 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Alignment Healthcare by 6.4% in the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company's stock worth $24,294,000 after purchasing an additional 185,854 shares in the last quarter. William Blair Investment Management LLC increased its holdings in shares of Alignment Healthcare by 94.4% in the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company's stock worth $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Finally, Renaissance Technologies LLC increased its holdings in shares of Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company's stock worth $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company's stock.

Alignment Healthcare Stock Down 0.2 %

Shares of ALHC stock traded down $0.03 during trading hours on Wednesday, reaching $12.52. 2,090,115 shares of the company's stock were exchanged, compared to its average volume of 1,157,531. The stock's 50 day moving average is $11.88 and its 200-day moving average is $9.87. The company has a market cap of $2.40 billion, a price-to-earnings ratio of -16.22 and a beta of 1.42. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting analysts' consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. During the same period in the prior year, the firm posted ($0.19) earnings per share. The business's quarterly revenue was up 51.6% on a year-over-year basis. Analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, Director Joseph S. Konowiecki sold 6,920 shares of the stock in a transaction dated Monday, November 11th. The stock was sold at an average price of $13.73, for a total transaction of $95,011.60. Following the sale, the director now directly owns 1,134,888 shares of the company's stock, valued at approximately $15,582,012.24. This trade represents a 0.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total transaction of $323,100.00. Following the sale, the insider now directly 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 disclosure for this sale can be found here. Insiders have sold a total of 540,483 shares of company stock valued at $6,513,528 in the last ninety days. Company insiders own 6.60% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on ALHC shares. 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. TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the company a "buy" rating in a research report on Tuesday, August 6th. UBS Group boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a "neutral" rating in a research report on Wednesday, October 30th. KeyCorp initiated coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a "sector weight" rating on the stock. Finally, Barclays lifted their target price 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 assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $11.44.

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.