Geode Capital Management LLC Acquires 32,839 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Geode Capital Management LLC raised its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1.4% in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,442,447 shares of the company’s stock after purchasing an additional 32,839 shares during the quarter. Geode Capital Management LLC owned approximately 1.27% of Alignment Healthcare worth $28,875,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of ALHC. Deerfield Management Company L.P. Series C increased its holdings in shares of 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 purchasing an additional 2,630,788 shares in the last quarter. William Blair Investment Management LLC boosted its stake 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 last quarter. Royce & Associates LP acquired a new stake in Alignment Healthcare during the 3rd quarter worth $3,782,000. Renaissance Technologies LLC raised 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 valued at $12,245,000 after acquiring an additional 225,000 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new position in shares of Alignment Healthcare in the 2nd quarter valued at $1,512,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ALHC. 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 research note on Tuesday, December 3rd. Barclays boosted their target price on 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 increased 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, KeyCorp began coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. One analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.44.

Alignment Healthcare Stock Performance

Shares of ALHC opened at $10.84 on Friday. The firm’s 50 day moving average price is $11.87 and its two-hundred day moving average price is $10.26. 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, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25. The firm has a market cap of $2.08 billion, a P/E ratio of -14.08 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC) last announced its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same period in the prior year, the business earned ($0.19) EPS. The company’s revenue for the quarter was up 51.6% compared to the same quarter last year. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the sale, the chief executive officer now owns 2,363,100 shares of the company’s stock, valued at approximately $27,530,115. The trade was a 3.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Robert Thomas Freeman sold 21,375 shares of the stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.66, for a total value of $227,857.50. Following the transaction, the chief financial officer now directly owns 243,054 shares of the company’s stock, valued at $2,590,955.64. This trade represents a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,546 shares of company stock valued at $7,875,008. 6.60% of the stock is owned by insiders.

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.