New York State Common Retirement Fund Raises Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

New York State Common Retirement Fund grew its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 173.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,455 shares of the company’s stock after purchasing an additional 52,337 shares during the period. New York State Common Retirement Fund’s holdings in Alignment Healthcare were worth $928,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in ALHC. Creative Planning lifted its holdings in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after purchasing an additional 2,072 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in shares of Alignment Healthcare by 1,335.1% during the 3rd 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. Royce & Associates LP purchased a new stake in shares of Alignment Healthcare during the 3rd quarter valued at $3,782,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare during the 3rd quarter valued at $131,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the 3rd quarter valued at $315,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Andreas P. Wagner sold 14,878 shares of the stock in a transaction dated Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at approximately $2,888,726.30. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 90,000 shares of the stock in a transaction dated Wednesday, December 11th. The stock was sold at an average price of $11.65, for a total value of $1,048,500.00. Following the sale, the chief executive officer now directly owns 2,363,100 shares in the company, valued at $27,530,115. This represents a 3.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 441,002 shares of company stock valued at $5,772,726. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare Price Performance

Shares of ALHC opened at $15.52 on Tuesday. The business’s 50-day moving average is $13.60 and its two-hundred day moving average is $12.04. The company has a market capitalization of $2.98 billion, a P/E ratio of -20.16 and a beta of 1.50. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25.

Analyst Ratings Changes

Several research firms recently issued reports on ALHC. Stephens reissued an “overweight” rating and issued a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday. Barclays upped their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday. Finally, Stifel Nicolaus upped their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $12.25.

About Alignment Healthcare

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.