Squarepoint Ops LLC Trims Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Squarepoint Ops LLC lowered its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 43.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 53,005 shares of the company’s stock after selling 41,230 shares during the quarter. Squarepoint Ops LLC’s holdings in Alignment Healthcare were worth $414,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares in the last quarter. Allspring Global Investments Holdings LLC increased its stake in Alignment Healthcare by 9.2% during the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares in the last quarter. Virtu Financial LLC acquired a new position in shares of Alignment Healthcare during the first quarter valued at approximately $57,000. Rhumbline Advisers lifted its position in shares of Alignment Healthcare by 13.3% in the second quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock valued at $1,074,000 after acquiring an additional 16,083 shares in the last quarter. Finally, Blue Trust Inc. boosted its stake in shares of Alignment Healthcare by 47.4% in the first quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock worth $1,272,000 after acquiring an additional 82,476 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $11.31 on Friday. The firm’s 50 day moving average is $9.98 and its 200-day moving average is $8.06. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.70. The company has a market capitalization of $2.16 billion, a PE ratio of -13.46 and a beta of 1.47. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $12.36.

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

Insider Transactions at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 39,320 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total value of $473,412.80. Following the sale, the chief financial officer now directly owns 194,609 shares in the company, valued at approximately $2,343,092.36. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, insider Christopher J. Joyce sold 15,034 shares of the business’s stock in a transaction dated Monday, July 15th. The shares were sold at an average price of $9.05, for a total transaction of $136,057.70. Following the sale, the insider now owns 406,912 shares of the company’s stock, valued at $3,682,553.60. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 39,320 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $12.04, for a total transaction of $473,412.80. Following the sale, the chief financial officer now directly owns 194,609 shares of the company’s stock, valued at $2,343,092.36. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 438,895 shares of company stock worth $4,621,859 in the last quarter. 6.60% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.