Ameriprise Financial Inc. Buys New Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Ameriprise Financial Inc. bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the fourth quarter, according to its most recent filing with the SEC. The firm bought 1,258,218 shares of the company’s stock, valued at approximately $14,155,000. Ameriprise Financial Inc. owned about 0.66% of Alignment Healthcare at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in Alignment Healthcare by 1.7% in the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after buying an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after buying an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP grew its stake in Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after buying an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC grew its stake in Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after buying an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC grew its stake in Alignment Healthcare by 49.5% in the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after buying an additional 1,211,727 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $14.84, for a total value of $1,335,600.00. Following the transaction, the chief executive officer now directly owns 1,913,100 shares in the company, valued at $28,390,404. The trade was a 4.49% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the sale, the president now directly owns 1,576,097 shares in the company, valued at $21,624,050.84. This represents a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 2,196,977 shares of company stock valued at $35,453,111. Company insiders own 7.00% of the company’s stock.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $15.78 on Friday. The company has a 50-day moving average of $17.31 and a 200-day moving average of $14.58. The company has a market capitalization of $3.12 billion, a price-to-earnings ratio of -20.49 and a beta of 1.32. Alignment Healthcare, Inc. has a 52 week low of $6.92 and a 52 week high of $21.06. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Alignment Healthcare (NASDAQ:ALHC) last released its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. The company had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The firm’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the firm earned ($0.25) EPS. As a group, equities research analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on ALHC shares. Stifel Nicolaus raised their target price on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research note on Tuesday, April 8th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Piper Sandler increased their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Robert W. Baird increased their price target on shares of Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. Finally, Barclays increased their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $17.17.

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.