Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Purchased by Wellington Management Group LLP

Wellington Management Group LLP grew its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 77.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 7,438,500 shares of the company’s stock after purchasing an additional 3,257,630 shares during the quarter. Wellington Management Group LLP owned 3.88% of Alignment Healthcare worth $83,683,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of the stock. Verition Fund Management LLC boosted its holdings in Alignment Healthcare by 85.3% in the 3rd quarter. Verition Fund Management LLC now owns 121,180 shares of the company’s stock worth $1,432,000 after acquiring an additional 55,771 shares during the period. JPMorgan Chase & Co. boosted its stake in shares of Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after purchasing an additional 205,705 shares during the period. Principal Financial Group Inc. grew its holdings in Alignment Healthcare by 1,335.1% during the 3rd quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Alignment Healthcare by 132.2% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after buying an additional 73,402 shares during the period. Finally, Barclays PLC lifted its holdings in Alignment Healthcare by 144.1% in the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock worth $2,287,000 after buying an additional 114,191 shares in the last quarter. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $18.11 on Friday. The company has a market cap of $3.47 billion, a PE ratio of -23.52 and a beta of 1.49. Alignment Healthcare, Inc. has a fifty-two week low of $4.59 and a fifty-two week high of $18.97. The firm has a 50-day simple moving average of $15.64 and a 200 day simple moving average of $13.22. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Analyst Ratings Changes

A number of analysts have recently issued reports on the company. Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. Piper Sandler lifted their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Barclays increased their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Stephens restated an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Insider Buying and Selling at Alignment Healthcare

In related news, insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction dated Tuesday, April 1st. The shares were sold at an average price of $18.47, for a total value of $461,750.00. Following the sale, the insider now directly owns 415,022 shares in the company, valued at $7,665,456.34. This trade represents a 5.68 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the completion of the transaction, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at approximately $29,686,686. This trade represents a 3.81 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,981,855 shares of company stock worth $30,590,612 over the last ninety days. Company insiders own 6.60% of the company’s stock.

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.