UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC Sells 4,365 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1.9% in the 3rd quarter, Holdings Channel.com reports. The firm owned 227,052 shares of the company’s stock after selling 4,365 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC’s holdings in Alignment Healthcare were worth $2,684,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after buying an additional 2,630,788 shares during the last quarter. William Blair Investment Management LLC grew 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 worth $24,279,000 after purchasing an additional 1,507,759 shares in the last quarter. Royce & Associates LP acquired a new position in shares of Alignment Healthcare in the third quarter valued at $3,782,000. Renaissance Technologies LLC raised its stake in shares of Alignment Healthcare by 16.8% in the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares in the last quarter. Finally, AQR Capital Management LLC bought a new stake in Alignment Healthcare in the 2nd quarter valued at $1,512,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Activity

In related news, COO Sebastian Burzacchi sold 8,550 shares of the firm’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $11.26, for a total value of $96,273.00. Following the transaction, the chief operating officer now owns 217,395 shares in the company, valued at $2,447,867.70. This trade represents a 3.78 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Robert Thomas Freeman sold 21,375 shares of Alignment Healthcare stock in a transaction dated Tuesday, October 1st. The stock was sold at an average price of $10.66, for a total value of $227,857.50. Following the completion of the sale, the chief financial officer now owns 243,054 shares of the company’s stock, valued at approximately $2,590,955.64. The trade was a 8.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 653,546 shares of company stock valued at $7,875,008 over the last three months. 6.60% of the stock is owned by insiders.

Analyst Ratings Changes

A number of analysts recently weighed in on the stock. Stephens raised shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $13.00 to $17.00 in a research note on Tuesday, December 3rd. KeyCorp initiated coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. UBS Group raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Finally, Barclays boosted their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research note on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $11.44.

Alignment Healthcare Price Performance

Alignment Healthcare stock opened at $11.45 on Friday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $14.25. The firm has a market cap of $2.19 billion, a P/E ratio of -14.87 and a beta of 1.42. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The business’s fifty day moving average is $11.98 and its two-hundred day moving average is $10.10.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, hitting the consensus estimate of ($0.14). The business had revenue of $692.43 million for the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm’s quarterly revenue was up 51.6% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.19) EPS. Equities research analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.