Northern Trust Corp Grows Stock Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Northern Trust Corp increased its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 8.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 908,964 shares of the company’s stock after purchasing an additional 72,063 shares during the period. Northern Trust Corp owned approximately 0.47% of Alignment Healthcare worth $10,226,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in ALHC. R Squared Ltd bought a new stake in shares of Alignment Healthcare during the 4th quarter valued at $55,000. RiverPark Advisors LLC bought a new position in Alignment Healthcare during the fourth quarter valued at $106,000. Tower Research Capital LLC TRC boosted its stake in shares of Alignment Healthcare by 146.7% during the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares during the period. Ballentine Partners LLC purchased a new stake in Alignment Healthcare in the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP purchased a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $129,000. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, CEO John E. Kao sold 554,713 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $8,614,692.89. Following the completion of the sale, the chief executive officer now directly owns 4,733,664 shares in the company, valued at $73,513,801.92. This represents a 10.49% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Tuesday, February 18th. The shares were 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 of the company’s stock, valued at approximately $21,624,050.84. This represents a 1.87% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 2,196,977 shares of company stock worth $35,453,111. Insiders own 7.00% of the company’s stock.

Alignment Healthcare Price Performance

Shares of Alignment Healthcare stock opened at $15.78 on Friday. The firm has a market cap of $3.12 billion, a PE ratio of -20.49 and a beta of 1.32. Alignment Healthcare, Inc. has a twelve month low of $6.92 and a twelve month high of $21.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The business has a 50-day moving average price of $17.31 and a 200 day moving average price of $14.58.

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

Wall Street Analyst Weigh In

Several analysts have recently weighed in on ALHC shares. UBS Group lifted their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Robert W. Baird lifted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a research note on Tuesday, April 15th. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Alignment Healthcare 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.