Barclays PLC Buys 23,212 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Barclays PLC grew its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 59.0% during the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 62,547 shares of the company’s stock after buying an additional 23,212 shares during the quarter. Barclays PLC’s holdings in Alignment Healthcare were worth $398,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the stock. SG Americas Securities LLC grew its stake in shares of Alignment Healthcare by 46.6% during the first quarter. SG Americas Securities LLC now owns 13,358 shares of the company’s stock worth $85,000 after buying an additional 4,246 shares during the last quarter. Inspire Investing LLC grew its stake in shares of Alignment Healthcare by 117.3% in the first quarter. Inspire Investing LLC now owns 43,654 shares of the company’s stock worth $278,000 after purchasing an additional 23,567 shares during the last quarter. Allspring Global Investments Holdings LLC bought a new stake in shares of Alignment Healthcare in the first quarter worth $54,000. Voya Investment Management LLC grew its stake in shares of Alignment Healthcare by 720.6% in the fourth quarter. Voya Investment Management LLC now owns 267,857 shares of the company’s stock worth $3,150,000 after purchasing an additional 235,217 shares during the last quarter. Finally, MetLife Investment Management LLC grew its stake in shares of Alignment Healthcare by 14.2% in the fourth quarter. MetLife Investment Management LLC now owns 52,439 shares of the company’s stock worth $617,000 after purchasing an additional 6,501 shares during the last quarter. Institutional investors own 85.58% of the company’s stock.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $6.01 on Wednesday. The firm’s 50-day moving average price is $5.98 and its 200-day moving average price is $6.66. Alignment Healthcare, Inc. has a 1-year low of $4.88 and a 1-year high of $16.63. The firm has a market capitalization of $1.13 billion, a P/E ratio of -6.83 and a beta of 1.62. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 0.76.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 3rd. The company reported ($0.15) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.21) by $0.06. Alignment Healthcare had a negative net margin of 10.03% and a negative return on equity of 68.85%. The company had revenue of $462.38 million for the quarter, compared to analyst estimates of $436.88 million. Equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.77 earnings per share for the current fiscal year.

Analysts Set New Price Targets

ALHC has been the topic of several analyst reports. SVB Securities reduced their price objective on shares of Alignment Healthcare from $24.00 to $12.00 in a research note on Friday, May 5th. UBS Group cut their price target on shares of Alignment Healthcare from $10.00 to $8.00 in a research report on Friday, May 5th. JPMorgan Chase & Co. cut their price target on shares of Alignment Healthcare from $12.00 to $10.00 in a research report on Friday, July 7th. Finally, Morgan Stanley reaffirmed an “overweight” rating and set a $19.00 price target on shares of Alignment Healthcare in a research report on Friday, July 14th. One equities research analyst has rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $11.50.

About Alignment Healthcare

Alignment Healthcare, Inc, a tech-enabled Medicare advantage company, operates consumer-centric health care platform. It provides customized health care in the United States to seniors and those who need it through its Medicare advantage plans. The company owns Medicare advantage plans in the states of California, North Carolina, Nevada, Arizona, Florida, and Texas.