Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Acquired by US Bancorp DE

US Bancorp DE lifted its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 6,544.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 98,932 shares of the company’s stock after acquiring an additional 97,443 shares during the quarter. US Bancorp DE owned 0.05% of Alignment Healthcare worth $1,113,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Creative Planning lifted its position in shares of 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 purchasing an additional 2,072 shares in the last quarter. Principal Financial Group Inc. boosted 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 valued at $2,294,000 after buying an additional 180,522 shares during the period. Royce & Associates LP acquired a new position in shares of Alignment Healthcare during the third quarter worth about $3,782,000. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in shares of Alignment Healthcare during the third quarter worth approximately $131,000. Finally, Intech Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the 3rd quarter worth $315,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on ALHC shares. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday. Bank of America raised their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Finally, Piper Sandler upped their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Stock Down 2.4 %

Shares of NASDAQ:ALHC opened at $14.89 on Monday. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $16.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm’s 50-day simple moving average is $13.97 and its 200-day simple moving average is $12.23. The company has a market cap of $2.86 billion, a price-to-earnings ratio of -19.34 and a beta of 1.49.

Insider Buying and Selling at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was 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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, COO Sebastian Burzacchi sold 8,550 shares of Alignment Healthcare stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total transaction of $96,273.00. Following the transaction, the chief operating officer now owns 217,395 shares of the company’s stock, valued at approximately $2,447,867.70. The trade was a 3.78 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,760,756 shares of company stock valued at $26,490,627. 6.60% of the stock is owned by corporate insiders.

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.