AQR Capital Management LLC Takes $1.51 Million Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

AQR Capital Management LLC acquired a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 193,363 shares of the company’s stock, valued at approximately $1,512,000. AQR Capital Management LLC owned approximately 0.10% of Alignment Healthcare as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Virtu Financial LLC bought a new stake in Alignment Healthcare during the first quarter worth $57,000. Principal Financial Group Inc. purchased a new position in Alignment Healthcare in the first quarter worth $57,000. Allspring Global Investments Holdings LLC boosted its position in Alignment Healthcare by 9.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after purchasing an additional 3,334 shares during the last quarter. Rhumbline Advisers boosted its position in Alignment Healthcare by 13.3% in the second quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock worth $1,074,000 after purchasing an additional 16,083 shares during the last quarter. Finally, Jacobs Levy Equity Management Inc. purchased a new position in Alignment Healthcare in the first quarter worth $918,000. Institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have weighed in on ALHC shares. TD Cowen boosted their price objective on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Piper Sandler reissued an “overweight” rating and issued a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. Barclays boosted their price objective on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Finally, Robert W. Baird upped their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. One investment analyst has rated the stock with a sell rating, two have issued a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and a consensus price target of $9.83.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CFO Robert Thomas Freeman sold 22,100 shares of the stock in a transaction dated Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total transaction of $221,000.00. Following the transaction, the chief financial officer now directly owns 497,329 shares in the company, valued at approximately $4,973,290. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total value of $1,019,700.00. Following the transaction, the chief executive officer now owns 2,543,100 shares in the company, valued at $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,895 shares of company stock worth $4,621,859. 6.60% of the stock is owned by company insiders.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $11.31 on Friday. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $12.36. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -13.46 and a beta of 1.47. The business’s fifty day moving average is $9.98 and its 200 day moving average is $8.06.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company had revenue of $681.29 million for the quarter, compared to analyst estimates of $637.66 million. During the same period in the previous year, the company posted ($0.15) EPS. The firm’s revenue for the quarter was up 47.3% compared to the same quarter last year. Research analysts predict that Alignment Healthcare, Inc. will post -0.67 EPS for the current year.

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.