SG Americas Securities LLC Takes Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

SG Americas Securities LLC acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund acquired 44,109 shares of the company’s stock, valued at approximately $521,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Deerfield Management Company L.P. Series C grew its position in Alignment Healthcare by 31.8% during the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after acquiring an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after buying an additional 1,507,759 shares during the period. Hood River Capital Management LLC raised its holdings in Alignment Healthcare by 49.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after buying an additional 968,637 shares during the last quarter. Renaissance Technologies LLC boosted its position in Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after buying an additional 225,000 shares during the period. Finally, AQR Capital Management LLC bought a new stake in Alignment Healthcare in the 2nd quarter worth $1,512,000. Institutional investors own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

ALHC has been the subject of several recent analyst reports. Robert W. Baird upped their price objective on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. KeyCorp started coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Piper Sandler reiterated an “overweight” rating and issued a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen boosted their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Finally, Stifel Nicolaus raised 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 equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, six have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $9.83.

Alignment Healthcare Price Performance

Shares of ALHC stock opened at $10.86 on Wednesday. The business’s fifty day moving average is $10.11 and its 200 day moving average is $8.24. 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 stock has a market cap of $2.08 billion, a price-to-earnings ratio of -12.93 and a beta of 1.47. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $12.36.

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

Insider Buying and Selling at Alignment Healthcare

In other news, insider Dawn Christine Maroney sold 20,000 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $8.70, for a total value of $174,000.00. Following the sale, the insider now directly owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, 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 transaction of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $8.70, for a total transaction of $174,000.00. Following the completion of the transaction, the insider now directly owns 1,796,097 shares of the company’s stock, valued at $15,626,043.90. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 329,998 shares of company stock valued at $3,569,500. Corporate 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.