SG Americas Securities LLC Sells 2,332 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

SG Americas Securities LLC lowered its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 4.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 46,940 shares of the company’s stock after selling 2,332 shares during the quarter. SG Americas Securities LLC’s holdings in Alignment Healthcare were worth $874,000 as of its most recent SEC filing.

A number of other hedge funds also recently modified their holdings of ALHC. Wellington Management Group LLP lifted its position in shares of Alignment Healthcare by 77.9% in the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares during the period. T. Rowe Price Investment Management Inc. lifted its position in shares of Alignment Healthcare by 54.7% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after buying an additional 3,059,596 shares during the period. Millennium Management LLC lifted its position in shares of Alignment Healthcare by 588.3% during the 4th quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after buying an additional 2,896,311 shares during the period. Point72 Asset Management L.P. bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $20,087,000. Finally, Broad Bay Capital Management LP bought a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $18,804,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 1.2%

ALHC stock opened at $14.40 on Thursday. The company has a market cap of $2.85 billion, a P/E ratio of -30.00 and a beta of 1.22. Alignment Healthcare, Inc. has a twelve month low of $7.05 and a twelve month high of $21.06. The company has a quick ratio of 1.69, a current ratio of 1.69 and a debt-to-equity ratio of 2.95. The business has a fifty day moving average of $16.12 and a 200-day moving average of $14.94.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share 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 return on equity of 80.49% and a negative net margin of 3.02%. The firm’s quarterly revenue was up 47.5% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.25) earnings per share. As a group, equities research analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Analysts Set New Price Targets

Several equities analysts recently commented on the company. JPMorgan Chase & Co. raised their target price on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Bank of America raised their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. Stephens upgraded Alignment Healthcare to a “strong-buy” rating in a research report on Monday, June 2nd. Finally, William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $17.17.

Insider Transactions at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction on Monday, June 16th. The stock was sold at an average price of $14.48, for a total transaction of $434,400.00. Following the completion of the sale, the president now directly owns 2,072,899 shares of the company’s stock, valued at $30,015,577.52. The trade was a 1.43% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of Alignment Healthcare stock in a transaction on Monday, May 19th. The stock was sold at an average price of $15.28, for a total value of $259,760,000.00. Following the sale, the director now directly owns 44,302,175 shares of the company’s stock, valued at approximately $676,937,234. This trade represents a 27.73% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,875,452 shares of company stock worth $274,429,595 over the last 90 days. 7.00% of the stock is owned by insiders.

About Alignment Healthcare

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.