Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC trimmed its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 5.5% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 37,045 shares of the company’s stock after selling 2,137 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Alignment Healthcare were worth $438,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in ALHC. nVerses Capital LLC purchased a new position in shares of Alignment Healthcare during the 3rd quarter worth approximately $95,000. Creative Planning increased its position in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares in the last quarter. SG Americas Securities LLC purchased a new position in Alignment Healthcare during the third quarter worth $521,000. Mackenzie Financial Corp boosted its holdings in shares of Alignment Healthcare by 110.0% during the second quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after purchasing an additional 19,129 shares during the last quarter. Finally, The Manufacturers Life Insurance Company boosted its holdings in shares of Alignment Healthcare by 20.9% during the second quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after purchasing an additional 9,595 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently weighed in on ALHC. Piper Sandler reiterated an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Robert W. Baird lifted their target price on Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research report on Wednesday, August 14th. Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday. Stifel Nicolaus lifted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Friday, July 26th. Finally, KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating on the stock. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, six have given a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Stock Up 4.4 %

Shares of Alignment Healthcare stock opened at $12.95 on Friday. The company has a quick ratio of 1.61, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market cap of $2.48 billion, a P/E ratio of -16.82 and a beta of 1.47. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $12.99. The business has a 50-day moving average price of $10.82 and a 200 day moving average price of $8.82.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same period in the previous year, the firm posted ($0.19) earnings per share. Alignment Healthcare’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.68 earnings per share for the current fiscal year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 20,000 shares of Alignment Healthcare 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 completion of the transaction, the insider now directly owns 1,796,097 shares in the company, valued at $15,626,043.90. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 39,320 shares of the company’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $12.04, for a total value of $473,412.80. Following the completion of the sale, the chief financial officer now directly owns 194,609 shares in the company, valued at $2,343,092.36. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dawn Christine Maroney sold 20,000 shares of the company’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 completion of the sale, the insider now 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. Insiders sold a total of 354,287 shares of company stock worth $3,964,670 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.