Rhumbline Advisers Buys 2,937 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Rhumbline Advisers boosted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 2.2% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 135,704 shares of the company’s stock after purchasing an additional 2,937 shares during the quarter. Rhumbline Advisers owned about 0.07% of Alignment Healthcare worth $1,527,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. R Squared Ltd bought a new stake in Alignment Healthcare during the fourth quarter worth approximately $55,000. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare during the fourth quarter worth approximately $121,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare during the third quarter worth approximately $131,000. Creative Planning lifted its holdings 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 buying an additional 2,072 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the third quarter worth approximately $315,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $15.75 on Wednesday. The business’s fifty day moving average price is $13.70 and its two-hundred day moving average price is $12.09. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. The stock has a market capitalization of $3.02 billion, a price-to-earnings ratio of -20.45 and a beta of 1.50. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday. Stifel Nicolaus upped their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Stephens reiterated an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, Bank of America upped their target price on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research note on Tuesday. One equities research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $14.56.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the company’s stock in a transaction on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total value of $213,945.64. Following the sale, the insider now directly owns 200,885 shares in the company, valued at $2,888,726.30. This represents a 6.90 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the sale, the president now owns 1,606,097 shares in the company, valued at $21,858,980.17. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 441,002 shares of company stock worth $5,772,726 over the last three months. Company insiders own 6.60% of the company’s stock.

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.