Raymond James Financial Inc. Takes Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Raymond James Financial Inc. bought a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 157,273 shares of the company’s stock, valued at approximately $1,769,000. Raymond James Financial Inc. owned approximately 0.08% of Alignment Healthcare at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Allspring Global Investments Holdings LLC lifted its holdings in Alignment Healthcare by 1,672.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock worth $7,591,000 after buying an additional 619,592 shares in the last quarter. JPMorgan Chase & Co. increased its position in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after acquiring an additional 205,705 shares during the last quarter. Principal Financial Group Inc. lifted its stake in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after acquiring an additional 180,522 shares in the last quarter. Barclays PLC boosted its holdings in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Finally, Walleye Capital LLC boosted its holdings in Alignment Healthcare by 142.2% in the third quarter. Walleye Capital LLC now owns 178,110 shares of the company’s stock valued at $2,105,000 after purchasing an additional 104,565 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

ALHC has been the topic of a number of recent analyst reports. Stephens reaffirmed an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Barclays increased 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. Stifel Nicolaus boosted their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Finally, 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 report on Thursday, March 6th. One analyst has rated the stock with a sell rating, three have issued 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.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $18.62 on Tuesday. The company has a market cap of $3.57 billion, a PE ratio of -24.18 and a beta of 1.49. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $18.92. The firm has a 50-day simple moving average of $15.36 and a 200 day simple moving average of $13.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the sale, 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 transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Robert L. Scavo sold 2,864 shares of the company’s stock in a transaction dated Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the transaction, the insider now owns 702,953 shares of the company’s stock, valued at $12,575,829.17. This represents a 0.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,956,855 shares of company stock worth $30,128,862 over the last ninety days. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Company 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.