TD Asset Management Inc Sells 53,796 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

TD Asset Management Inc cut its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHCFree Report) by 15.4% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 294,654 shares of the company’s stock after selling 53,796 shares during the period. TD Asset Management Inc owned approximately 0.16% of Alignment Healthcare worth $2,537,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Deerfield Management Company L.P. Series C boosted its stake in shares of Alignment Healthcare by 49.1% during the 3rd quarter. Deerfield Management Company L.P. Series C now owns 2,747,015 shares of the company’s stock worth $19,064,000 after acquiring an additional 905,015 shares in the last quarter. William Blair Investment Management LLC lifted its holdings in Alignment Healthcare by 39.7% in the 3rd quarter. William Blair Investment Management LLC now owns 1,913,459 shares of the company’s stock worth $13,279,000 after purchasing an additional 544,196 shares during the last quarter. Vanguard Group Inc. boosted its position in Alignment Healthcare by 3.7% during the third quarter. Vanguard Group Inc. now owns 9,121,432 shares of the company’s stock worth $63,303,000 after purchasing an additional 322,661 shares during the period. Rhenman & Partners Asset Management AB grew its holdings in Alignment Healthcare by 20.0% during the third quarter. Rhenman & Partners Asset Management AB now owns 1,200,000 shares of the company’s stock valued at $8,328,000 after purchasing an additional 200,000 shares during the last quarter. Finally, Connor Clark & Lunn Investment Management Ltd. raised its position in shares of Alignment Healthcare by 83.5% in the third quarter. Connor Clark & Lunn Investment Management Ltd. now owns 212,151 shares of the company’s stock valued at $1,472,000 after purchasing an additional 96,533 shares during the period. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Down 0.6 %

ALHC opened at $8.34 on Friday. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $9.20. The company has a market capitalization of $1.59 billion, a P/E ratio of -9.93 and a beta of 1.44. The company has a debt-to-equity ratio of 1.23, a current ratio of 1.57 and a quick ratio of 1.57. The firm’s fifty day moving average price is $6.19 and its two-hundred day moving average price is $6.66.

Alignment Healthcare (NASDAQ:ALHCGet Free Report) last posted its earnings results on Thursday, May 2nd. The company reported ($0.25) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.24) by ($0.01). The business had revenue of $628.60 million during the quarter, compared to the consensus estimate of $599.75 million. Alignment Healthcare had a negative net margin of 7.81% and a negative return on equity of 91.06%. The business’s revenue was up 43.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.20) EPS. On average, analysts anticipate that Alignment Healthcare, Inc. will post -0.66 EPS for the current year.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. Baird R W raised shares of Alignment Healthcare to a “strong-buy” rating in a report on Thursday, May 30th. Stephens lifted their price objective on Alignment Healthcare from $6.00 to $7.00 and gave the stock an “equal weight” rating in a research note on Friday, May 3rd. Stifel Nicolaus cut their price objective on Alignment Healthcare from $11.00 to $9.00 and set a “buy” rating for the company in a research report on Tuesday, April 23rd. Barclays began coverage on Alignment Healthcare in a report on Wednesday, March 6th. They issued an “underweight” rating and a $4.50 target price on the stock. Finally, Bank of America upgraded Alignment Healthcare from a “neutral” rating to a “buy” rating and upped their price target for the stock from $7.75 to $11.00 in a report on Thursday, May 30th. One analyst has rated the stock with a sell rating, two have given a hold rating, six have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.20.

View Our Latest Stock Report on Alignment Healthcare

Insider Transactions at Alignment Healthcare

In related news, CEO John E. Kao purchased 103,000 shares of the stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now directly owns 2,745,253 shares of the company’s stock, valued at approximately $13,232,119.46. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO John E. Kao purchased 103,000 shares of Alignment Healthcare stock in a transaction on Thursday, March 14th. The shares were purchased at an average cost of $4.82 per share, for a total transaction of $496,460.00. Following the completion of the transaction, the chief executive officer now directly owns 2,745,253 shares in the company, valued at $13,232,119.46. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Robert Thomas Freeman sold 11,858 shares of the company’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $4.89, for a total transaction of $57,985.62. Following the sale, the chief financial officer now directly owns 898,228 shares in the company, valued at $4,392,334.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 67,213 shares of company stock valued at $335,467. Corporate insiders own 6.60% of the company’s stock.

About Alignment Healthcare

(Free Report)

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.

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Institutional Ownership by Quarter for Alignment Healthcare (NASDAQ:ALHC)

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