Charles Schwab Investment Management Inc. Has $9.93 Million Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Charles Schwab Investment Management Inc. lifted its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1.7% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 839,695 shares of the company’s stock after purchasing an additional 13,865 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.44% of Alignment Healthcare worth $9,925,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors also recently modified their holdings of the company. Deerfield Management Company L.P. Series C raised its holdings in Alignment Healthcare by 31.8% in the 2nd quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after buying an additional 2,630,788 shares during the last quarter. Hood River Capital Management LLC raised its stake in Alignment Healthcare by 6.4% during the second quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after buying an additional 185,854 shares during the last quarter. William Blair Investment Management LLC lifted its stake in Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after buying an additional 1,507,759 shares during the period. Renaissance Technologies LLC boosted its holdings in shares of Alignment Healthcare by 16.8% during the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after buying an additional 225,000 shares in the last quarter. Finally, Bank of New York Mellon Corp raised its holdings in shares of Alignment Healthcare by 27.5% during the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares during the period. 86.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. This represents a 3.42 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $10.77, for a total value of $323,100.00. Following the transaction, the insider now owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. The trade was a 1.71 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 603,057 shares of company stock worth $7,276,931. Insiders own 6.60% of the company’s stock.

Analyst Upgrades and Downgrades

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

Alignment Healthcare Stock Up 0.4 %

ALHC stock opened at $11.43 on Tuesday. The business’s 50-day moving average price is $11.93 and its 200-day moving average price is $9.97. The stock has a market cap of $2.19 billion, a P/E ratio of -14.84 and a beta of 1.42. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

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