nVerses Capital LLC Takes Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,000 shares of the company’s stock, valued at approximately $95,000.

A number of other large investors have also recently bought and sold shares of the stock. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% in the second 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 acquiring an additional 2,630,788 shares during the period. Vanguard Group Inc. grew its position in Alignment Healthcare by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after acquiring an additional 93,262 shares during the period. Hood River Capital Management LLC grew its position in Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock valued at $24,294,000 after acquiring an additional 185,854 shares during the period. William Blair Investment Management LLC grew its position in Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares during the period. Finally, Renaissance Technologies LLC grew its position in Alignment Healthcare by 16.8% in the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after acquiring an additional 225,000 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Trading Down 4.8 %

NASDAQ:ALHC opened at $10.88 on Monday. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $12.36. The business’s 50-day moving average price is $10.28 and its two-hundred day moving average price is $8.38. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70. The firm has a market capitalization of $2.08 billion, a price-to-earnings ratio of -12.95 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, beating the consensus estimate of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The firm had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. During the same quarter in the prior year, the firm posted ($0.15) earnings per share. The company’s quarterly revenue was up 47.3% on a year-over-year basis. On average, equities analysts expect that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on ALHC. TD Cowen upped their price target on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research report on Tuesday, August 6th. Robert W. Baird increased their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a report on Wednesday, August 14th. Piper Sandler restated an “overweight” rating and set a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Barclays increased their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Finally, KeyCorp began coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, three have given a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $9.83.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 39,320 shares of the stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total value of $473,412.80. Following the transaction, the chief financial officer now owns 194,609 shares of the company’s stock, valued at approximately $2,343,092.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, CFO Robert Thomas Freeman sold 39,320 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total transaction of $473,412.80. Following the sale, the chief financial officer now owns 194,609 shares of the company’s stock, valued at $2,343,092.36. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 314,940 shares of company stock valued at $3,487,014. 6.60% of the stock is currently owned by company insiders.

Alignment Healthcare 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.