JPMorgan Chase & Co. Purchases 205,705 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

JPMorgan Chase & Co. boosted its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 249.3% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 288,219 shares of the company’s stock after buying an additional 205,705 shares during the period. JPMorgan Chase & Co. owned approximately 0.15% of Alignment Healthcare worth $3,407,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Verition Fund Management LLC boosted its position in shares of Alignment Healthcare by 85.3% during the 3rd 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 last quarter. The Manufacturers Life Insurance Company raised its stake in Alignment Healthcare by 132.2% during the third 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. Principal Financial Group Inc. lifted its position in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares during the last quarter. Barclays PLC grew its stake in shares of Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after buying an additional 114,191 shares in the last quarter. Finally, Deerfield Management Company L.P. Series C increased its holdings in shares of Alignment Healthcare by 31.8% in 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 buying an additional 2,630,788 shares during the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other news, Director Joseph S. Konowiecki sold 6,920 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $13.73, for a total value of $95,011.60. Following the completion of the transaction, the director now directly owns 1,134,888 shares of the company’s stock, valued at approximately $15,582,012.24. The trade was a 0.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the completion of the transaction, the president now owns 1,606,097 shares in the company, valued at $21,858,980.17. This trade represents a 1.83 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 539,224 shares of company stock valued at $6,808,290. Company insiders own 6.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on ALHC shares. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Thursday, January 2nd. Stifel Nicolaus raised their price objective on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research note on Tuesday, January 14th. UBS Group boosted their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. KeyCorp assumed coverage on Alignment Healthcare in a research report on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, Barclays boosted their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.88.

Alignment Healthcare Trading Up 0.2 %

NASDAQ ALHC opened at $14.58 on Friday. The stock has a market cap of $2.79 billion, a PE ratio of -18.94 and a beta of 1.45. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $14.79. The company’s 50-day moving average price is $11.94 and its 200-day moving average price is $10.78. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

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

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.