Quantbot Technologies LP Buys Shares of 148,438 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Quantbot Technologies LP purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 148,438 shares of the company’s stock, valued at approximately $1,670,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Teacher Retirement System of Texas bought a new stake in Alignment Healthcare in the fourth quarter valued at about $255,000. Intech Investment Management LLC grew its position in shares of Alignment Healthcare by 65.1% during the 4th quarter. Intech Investment Management LLC now owns 44,018 shares of the company’s stock worth $495,000 after buying an additional 17,350 shares during the period. William Blair Investment Management LLC increased its stake in shares of Alignment Healthcare by 50.7% in the 4th quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company’s stock valued at $33,442,000 after acquiring an additional 999,940 shares during the last quarter. Royce & Associates LP increased its stake in shares of Alignment Healthcare by 144.3% in the 4th quarter. Royce & Associates LP now owns 781,680 shares of the company’s stock valued at $8,794,000 after acquiring an additional 461,680 shares during the last quarter. Finally, AlphaQuest LLC acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at approximately $132,000. 86.19% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $13.61, for a total transaction of $408,300.00. Following the sale, the president now owns 1,606,097 shares in the company, valued at approximately $21,858,980.17. This represents a 1.83 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO John E. Kao sold 27,535 shares of the stock in a transaction that occurred on Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total value of $465,066.15. Following the transaction, the chief executive officer now directly owns 4,991,717 shares of the company’s stock, valued at $84,310,100.13. This trade represents a 0.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,901,665 shares of company stock worth $29,141,513. Corporate insiders own 6.60% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts recently issued reports on the stock. Stifel Nicolaus boosted their price objective on shares of Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. Piper Sandler lifted their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Finally, Bank of America increased their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Stock Down 0.9 %

ALHC stock opened at $17.46 on Tuesday. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $3.35 billion, a P/E ratio of -22.68 and a beta of 1.49. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $17.76. The business has a 50-day moving average of $14.98 and a 200-day moving average of $12.78.

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.