Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Squarepoint Ops LLC

Squarepoint Ops LLC trimmed its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 43.8% during the 2nd quarter, Holdings Channel.com reports. The fund owned 53,005 shares of the company’s stock after selling 41,230 shares during the period. Squarepoint Ops LLC’s holdings in Alignment Healthcare were worth $414,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Hood River Capital Management LLC boosted its stake in shares of Alignment Healthcare by 6.4% in the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after buying an additional 185,854 shares during the last quarter. Renaissance Technologies LLC grew its stake in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares during the period. William Blair Investment Management LLC increased its holdings in shares of Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Rhumbline Advisers lifted its stake in shares of Alignment Healthcare by 13.3% in the 2nd quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock valued at $1,074,000 after purchasing an additional 16,083 shares during the period. Finally, Principal Financial Group Inc. boosted its holdings in Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after buying an additional 2,077 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 0.2 %

NASDAQ ALHC opened at $11.31 on Friday. The firm has a market capitalization of $2.16 billion, a PE ratio of -13.46 and a beta of 1.47. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $12.36. The company has a 50-day simple moving average of $9.98 and a 200-day simple moving average of $8.06. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. During the same quarter in the previous year, the firm posted ($0.15) EPS. The firm’s quarterly revenue was up 47.3% on a year-over-year basis. On average, equities analysts forecast that Alignment Healthcare, Inc. will post -0.67 earnings per share for the current year.

Insiders Place Their Bets

In other Alignment Healthcare news, insider Christopher J. Joyce sold 15,034 shares of the company’s stock in a transaction that occurred on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the transaction, the insider now owns 406,912 shares in the company, valued at approximately $3,682,553.60. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction that occurred on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Christopher J. Joyce sold 15,034 shares of the business’s stock in a transaction on Monday, July 15th. The shares were sold at an average price of $9.05, for a total value of $136,057.70. Following the completion of the sale, the insider now directly owns 406,912 shares in the company, valued at approximately $3,682,553.60. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,895 shares of company stock worth $4,621,859. Corporate insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ALHC shares. Barclays upped their price objective on shares of Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a research report on Monday, August 5th. Piper Sandler restated an “overweight” rating and issued a $10.00 target price (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. TD Cowen boosted their price target on Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a research report on Tuesday, August 6th. Robert W. Baird raised their price objective on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. Finally, Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Friday, July 26th. One research analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average target price of $9.83.

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.