Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Jane Street Group LLC

Jane Street Group LLC decreased its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 5.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 127,960 shares of the company’s stock after selling 7,086 shares during the period. Jane Street Group LLC owned approximately 0.07% of Alignment Healthcare worth $1,512,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Verition Fund Management LLC increased its stake in shares of Alignment Healthcare by 85.3% during the third quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock valued at $1,432,000 after acquiring an additional 55,771 shares during the period. The Manufacturers Life Insurance Company boosted its stake in Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares in the last quarter. Deerfield Management Company L.P. Series C boosted its stake 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 valued at $85,250,000 after purchasing an additional 2,630,788 shares in the last quarter. Bank of New York Mellon Corp increased its position in shares of Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares during the period. Finally, Principal Financial Group Inc. raised its stake in shares of Alignment Healthcare by 1,335.1% in the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Insider Activity at Alignment Healthcare

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 21,375 shares of the business’s stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.66, for a total value of $227,857.50. Following the completion of the sale, the chief financial officer now owns 243,054 shares of the company’s stock, valued at $2,590,955.64. The trade was a 8.08 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total value of $323,100.00. Following the transaction, the insider now directly owns 1,726,097 shares in the company, valued at approximately $18,590,064.69. This represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 653,546 shares of company stock valued at $7,875,008. 6.60% of the stock is owned by corporate insiders.

Alignment Healthcare Stock Up 1.1 %

Alignment Healthcare stock opened at $10.84 on Friday. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The firm has a market cap of $2.08 billion, a PE ratio of -14.08 and a beta of 1.42. The firm’s 50 day moving average price is $11.87 and its two-hundred day moving average price is $10.26.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same period last year, the company earned ($0.19) earnings per share. Alignment Healthcare’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, research analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. UBS Group raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. KeyCorp began coverage on shares of Alignment Healthcare in a research report on Friday, October 11th. They set a “sector weight” rating for the company. Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $17.00 in a report on Tuesday, December 3rd. Finally, Barclays increased their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and a consensus target price of $11.44.

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.