Assenagon Asset Management S.A. Sells 3,482 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Assenagon Asset Management S.A. trimmed its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 2.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 143,831 shares of the company’s stock after selling 3,482 shares during the quarter. Assenagon Asset Management S.A. owned approximately 0.08% of Alignment Healthcare worth $1,618,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in ALHC. Deerfield Management Company L.P. Series C increased its position in shares of Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares during the period. Royce & Associates LP acquired a new position in shares of Alignment Healthcare during the third quarter valued at about $3,782,000. JPMorgan Chase & Co. raised its stake in Alignment Healthcare by 249.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after buying an additional 205,705 shares during the period. AQR Capital Management LLC acquired a new stake in Alignment Healthcare in the second quarter valued at approximately $1,512,000. Finally, Principal Financial Group Inc. grew its stake in Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock opened at $14.57 on Friday. The company has a market cap of $2.79 billion, a PE ratio of -18.92 and a beta of 1.45. The business has a 50 day moving average of $12.06 and a 200 day moving average of $10.94. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $15.03. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

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

Insider Activity

In other news, insider Hakan Kardes sold 10,500 shares of the stock in a transaction on Tuesday, January 21st. The shares were sold at an average price of $14.99, for a total value of $157,395.00. Following the completion of the sale, the insider now directly owns 309,944 shares of the company’s stock, valued at $4,646,060.56. This represents a 3.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Robert Thomas Freeman sold 4,483 shares of the company’s stock in a transaction dated Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the transaction, the chief financial officer now directly owns 159,626 shares of the company’s stock, valued at approximately $1,917,108.26. This trade represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 549,724 shares of company stock valued at $6,965,685 in the last ninety days. 6.60% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

ALHC has been the subject of several research reports. Stifel Nicolaus lifted their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp initiated coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating on the stock. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Thursday, January 2nd. Finally, Barclays raised their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $11.88.

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.