Proficio Capital Partners LLC Purchases New Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Proficio Capital Partners LLC acquired a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 16,380 shares of the company’s stock, valued at approximately $184,000.

Several other institutional investors have also modified their holdings of ALHC. Connor Clark & Lunn Investment Management Ltd. purchased a new position in shares of Alignment Healthcare in the 3rd quarter valued at $131,000. Intech Investment Management LLC acquired a new position in Alignment Healthcare in the third quarter valued at $315,000. Charles Schwab Investment Management Inc. grew its holdings in shares of Alignment Healthcare by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock worth $9,925,000 after purchasing an additional 13,865 shares during the last quarter. Algert Global LLC increased its position in shares of Alignment Healthcare by 44.8% during the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock worth $956,000 after purchasing an additional 25,050 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in shares of Alignment Healthcare by 132.2% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Insiders Place Their Bets

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 13,815 shares of the business’s stock in a transaction on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total transaction of $233,335.35. Following the sale, the chief financial officer now directly owns 1,482,595 shares in the company, valued at approximately $25,041,029.55. The trade was a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the transaction, the chief executive officer now directly owns 2,273,100 shares in the company, valued at approximately $29,686,686. This trade represents a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,901,665 shares of company stock worth $29,141,513. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Trading Up 3.0 %

Shares of Alignment Healthcare stock opened at $18.13 on Friday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market cap of $3.48 billion, a price-to-earnings ratio of -23.55 and a beta of 1.49. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $18.19. The company’s 50-day simple moving average is $15.21 and its 200-day simple moving average is $12.91.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ALHC. Stifel Nicolaus raised their price target on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Stephens reiterated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. JPMorgan Chase & Co. increased their price target on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Finally, Barclays lifted their price objective on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.