AlphaQuest LLC Invests $132,000 in Alignment Healthcare, Inc. (NASDAQ:ALHC)

AlphaQuest LLC bought a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the 4th quarter, HoldingsChannel.com reports. The firm bought 11,733 shares of the company’s stock, valued at approximately $132,000.

Several other institutional investors have also made changes to their positions in the business. Rhumbline Advisers boosted its position in shares of Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after acquiring an additional 2,937 shares in the last quarter. R Squared Ltd acquired a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $55,000. SG Americas Securities LLC boosted its position in shares of Alignment Healthcare by 11.7% during the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock valued at $554,000 after acquiring an additional 5,163 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Alignment Healthcare by 1.0% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company’s stock valued at $9,540,000 after acquiring an additional 8,279 shares in the last quarter. Finally, Ballentine Partners LLC acquired a new stake in shares of Alignment Healthcare during the 4th quarter valued at about $121,000. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Price Performance

Shares of ALHC stock opened at $16.09 on Tuesday. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $16.26. The firm’s 50 day moving average is $14.48 and its 200-day moving average is $12.51. The firm has a market capitalization of $3.09 billion, a price-to-earnings ratio of -20.90 and a beta of 1.49. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Bank of America lifted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. Piper Sandler boosted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Stifel Nicolaus boosted their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief executive officer now directly owns 2,273,100 shares of the company’s stock, valued at $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 250,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $15.58, for a total transaction of $3,895,000.00. Following the sale, the chief financial officer now directly owns 1,635,849 shares of the company’s stock, valued at approximately $25,486,527.42. This trade represents a 13.26 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,829,454 shares of company stock worth $27,936,991. Corporate insiders own 6.60% of the company’s stock.

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.