Barclays PLC Boosts Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Barclays PLC raised its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 144.1% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 193,446 shares of the company’s stock after purchasing an additional 114,191 shares during the quarter. Barclays PLC owned 0.10% of Alignment Healthcare worth $2,287,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at approximately $95,000. Principal Financial Group Inc. lifted its holdings in Alignment Healthcare by 18.1% in the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock valued at $106,000 after acquiring an additional 2,077 shares during the period. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare during the 3rd quarter worth $131,000. Creative Planning grew its stake in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after purchasing an additional 2,072 shares during the period. Finally, Mackenzie Financial Corp grew its stake in shares of Alignment Healthcare by 110.0% during the 2nd 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 period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 0.1 %

Shares of ALHC stock opened at $10.72 on Thursday. The company has a market capitalization of $2.05 billion, a price-to-earnings ratio of -13.92 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. The firm has a 50-day moving average price of $11.88 and a 200 day moving average price of $10.26. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting analysts’ consensus estimates of ($0.14). The business 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 was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) earnings per share. Research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated 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 completion of the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. This represents 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 hyperlink. Also, 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 transaction, the chief financial officer now owns 243,054 shares in the company, valued at $2,590,955.64. The trade was a 8.08 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 653,546 shares of company stock valued at $7,875,008 in the last quarter. 6.60% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the stock. Barclays boosted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. UBS Group upped their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stephens raised Alignment Healthcare from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $13.00 to $17.00 in a report on Tuesday, December 3rd. Finally, KeyCorp assumed coverage on Alignment Healthcare in a report on Friday, October 11th. They issued a “sector weight” rating on the stock. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target 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.