Allspring Global Investments Holdings LLC Has $7.59 Million Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Allspring Global Investments Holdings LLC raised its stake in Alignment Healthcare, Inc. (NASDAQ:ALHCFree Report) by 1,672.5% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 656,637 shares of the company’s stock after purchasing an additional 619,592 shares during the period. Allspring Global Investments Holdings LLC owned 0.34% of Alignment Healthcare worth $7,591,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. R Squared Ltd bought a new stake in shares of Alignment Healthcare during the fourth quarter worth about $55,000. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare during the fourth quarter worth about $121,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the third quarter worth about $131,000. Creative Planning increased its position in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after acquiring an additional 2,072 shares in the last quarter. Finally, Intech Investment Management LLC bought a new stake in shares of Alignment Healthcare during the third quarter worth about $315,000. 86.19% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently commented on ALHC. Barclays boosted their target price on shares of 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 boosted their price target 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. Stephens restated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Thursday, January 2nd. Finally, Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $11.88.

Read Our Latest Research Report on Alignment Healthcare

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $14.08 on Thursday. The firm’s 50 day simple moving average is $13.09 and its 200 day simple moving average is $11.72. 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 market capitalization of $2.70 billion, a PE ratio of -18.29 and a beta of 1.50. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $15.82.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of the stock in a transaction on Tuesday, February 11th. The shares were sold at an average price of $14.23, for a total value of $1,280,700.00. Following the transaction, the chief executive officer now owns 2,183,100 shares of the company’s stock, valued at $31,065,513. This represents a 3.96 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the completion of the transaction, the president now directly owns 1,606,097 shares in the company, valued at $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 446,002 shares of company stock valued at $5,809,126. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Company Profile

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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