MetLife Investment Management LLC Trims Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

MetLife Investment Management LLC lowered its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 3.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 58,088 shares of the company’s stock after selling 2,300 shares during the quarter. MetLife Investment Management LLC’s holdings in Alignment Healthcare were worth $687,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of ALHC. The Manufacturers Life Insurance Company raised its position in shares of Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock valued at $1,524,000 after purchasing an additional 73,402 shares during the period. Algert Global LLC raised its holdings in Alignment Healthcare by 44.8% during the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock valued at $956,000 after acquiring an additional 25,050 shares during the period. Charles Schwab Investment Management Inc. lifted its position in shares of Alignment Healthcare by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after acquiring an additional 13,865 shares in the last quarter. Intech Investment Management LLC purchased a new position in shares of Alignment Healthcare in the third quarter valued at about $315,000. Finally, Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare in the third quarter worth about $131,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $11.39 on Friday. 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 company has a market cap of $2.18 billion, a PE ratio of -14.79 and a beta of 1.42. The company’s 50-day moving average price is $11.93 and its 200-day moving average price is $9.93. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm had revenue of $692.43 million during the quarter, compared to analyst estimates of $662.11 million. During the same period last year, the firm posted ($0.19) EPS. Alignment Healthcare’s revenue was up 51.6% on a year-over-year basis. On average, equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Insider Activity

In other news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. This trade represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 4,483 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The shares were sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the sale, the chief financial officer now owns 159,626 shares in the company, valued at approximately $1,917,108.26. This represents a 2.73 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 603,057 shares of company stock valued at $7,276,931 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALHC has been the topic of a number of research analyst reports. UBS Group boosted their price target on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a report on Wednesday, October 30th. Stephens raised shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and boosted their target price for the stock from $13.00 to $17.00 in a report on Tuesday, December 3rd. KeyCorp began coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Robert W. Baird boosted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the stock an “outperform” rating in a research note on Wednesday, August 14th. Finally, Barclays increased their price objective on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

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.