Y Intercept Hong Kong Ltd Purchases Shares of 44,218 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Y Intercept Hong Kong Ltd purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 44,218 shares of the company's stock, valued at approximately $523,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALHC. nVerses Capital LLC bought a new position in shares of Alignment Healthcare during the third quarter valued at about $95,000. Principal Financial Group Inc. grew its position in 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 acquiring an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alignment Healthcare in the 3rd quarter worth $131,000. Creative Planning increased its position in shares of Alignment Healthcare by 20.0% in the third quarter. Creative Planning now owns 12,442 shares of the company's stock valued at $147,000 after acquiring an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Alignment Healthcare by 110.0% in the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company's stock worth $286,000 after purchasing an additional 19,129 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. The trade was a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Hyong Kim sold 22,460 shares of the firm's stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total transaction of $247,733.80. Following the completion of the sale, the insider now owns 533,070 shares in the company, valued at $5,879,762.10. This represents a 4.04 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 653,546 shares of company stock worth $7,875,008 in the last three months. Insiders own 6.60% of the company's stock.

Analysts Set New Price Targets

ALHC has been the subject of several research analyst reports. KeyCorp started coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a "sector weight" rating for the company. Stephens upgraded shares of Alignment Healthcare from an "equal weight" rating to an "overweight" rating and lifted their price target for the company from $13.00 to $17.00 in a report on Tuesday, December 3rd. UBS Group upped their price objective on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a "neutral" rating in a report on Wednesday, October 30th. Finally, Barclays lifted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an "underweight" rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $11.44.

Alignment Healthcare Stock Down 2.1 %

Shares of Alignment Healthcare stock traded down $0.24 during midday trading on Monday, hitting $11.21. The company had a trading volume of 1,109,817 shares, compared to its average volume of 1,174,291. The company has a 50 day moving average of $11.98 and a 200 day moving average of $10.15. The stock has a market capitalization of $2.15 billion, a P/E ratio of -14.56 and a beta of 1.42. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

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 for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same period last year, the company earned ($0.19) earnings per share. The company's revenue was up 51.6% on a year-over-year basis. On average, equities analysts predict that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.