Intech Investment Management LLC Has $495,000 Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Intech Investment Management LLC lifted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 65.1% during the fourth quarter, Holdings Channel reports. The fund owned 44,018 shares of the company’s stock after buying an additional 17,350 shares during the quarter. Intech Investment Management LLC’s holdings in Alignment Healthcare were worth $495,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also bought and sold shares of the stock. R Squared Ltd bought a new stake in Alignment Healthcare in the fourth quarter valued at $55,000. Ballentine Partners LLC acquired a new stake in Alignment Healthcare in the fourth quarter valued at approximately $121,000. Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of Alignment Healthcare during the third quarter valued at approximately $131,000. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the fourth quarter worth approximately $129,000. Finally, AlphaQuest LLC bought a new position in shares of Alignment Healthcare in the 4th quarter worth $132,000. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $17.46 on Tuesday. The company has a market capitalization of $3.35 billion, a P/E ratio of -22.68 and a beta of 1.49. The company’s 50-day moving average is $14.98 and its 200 day moving average is $12.78. 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 $17.76.

Analyst Upgrades and Downgrades

Several research firms have weighed in on ALHC. Piper Sandler upped their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Stifel Nicolaus raised 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. Stephens reissued an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. Barclays raised their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. Finally, Bank of America increased their price target on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a research report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Insider Buying and Selling at Alignment Healthcare

In related news, CFO Robert Thomas Freeman sold 13,815 shares of the company’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total value of $233,335.35. Following the transaction, the chief financial officer now owns 1,482,595 shares in the company, valued at approximately $25,041,029.55. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the transaction, the president now directly owns 1,606,097 shares of the company’s stock, valued at approximately $21,858,980.17. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 1,901,665 shares of company stock worth $29,141,513 over the last three months. 6.60% of the stock is currently owned by insiders.

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.