Wellington Management Group LLP Sells 322,629 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Wellington Management Group LLP trimmed its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 7.2% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,180,870 shares of the company's stock after selling 322,629 shares during the period. Wellington Management Group LLP owned about 2.18% of Alignment Healthcare worth $49,418,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company's stock valued at $2,991,000 after acquiring an additional 82,559 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 18.1% during the 2nd 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 in the last quarter. Rhumbline Advisers boosted its position in shares of Alignment Healthcare by 13.3% during the 2nd quarter. Rhumbline Advisers now owns 137,296 shares of the company's stock worth $1,074,000 after purchasing an additional 16,083 shares in the last quarter. William Blair Investment Management LLC boosted its position in shares of Alignment Healthcare by 94.4% during 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 boosted its position in shares of Alignment Healthcare by 16.8% during 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. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Down 2.2 %

NASDAQ:ALHC traded down $0.26 on Thursday, hitting $11.47. The stock had a trading volume of 637,559 shares, compared to its average volume of 1,169,961. 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 stock has a market cap of $2.20 billion, a P/E ratio of -15.23 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 simple moving average is $11.96 and its two-hundred day simple moving average is $10.04.

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

Insider Buying and Selling at Alignment Healthcare

In other news, CFO Robert Thomas Freeman sold 21,375 shares of the firm's stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.66, for a total transaction of $227,857.50. Following the completion of the sale, the chief financial officer now owns 243,054 shares in the company, valued at $2,590,955.64. This trade represents a 8.08 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the firm's stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the sale, the chief executive officer now owns 2,543,100 shares of the company's stock, valued at approximately $28,813,323. The trade was a 3.42 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 578,046 shares of company stock worth $7,000,508. Insiders own 6.60% of the company's stock.

Analyst Ratings Changes

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

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.