Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Fmr LLC

Fmr LLC lessened its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 3.2% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The firm owned 16,448,230 shares of the company’s stock after selling 539,119 shares during the quarter. Fmr LLC owned approximately 8.58% of Alignment Healthcare worth $185,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. R Squared Ltd purchased a new stake in shares of Alignment Healthcare during the 4th quarter worth about $55,000. Ballentine Partners LLC purchased a new position in Alignment Healthcare during the fourth quarter worth approximately $121,000. Aigen Investment Management LP acquired a new stake in Alignment Healthcare in the fourth quarter valued at approximately $129,000. AlphaQuest LLC purchased a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $132,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of Alignment Healthcare during the 4th quarter worth approximately $184,000. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at $29,686,686. This represents a 3.81 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on 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 of the company’s stock, valued at $21,858,980.17. This represents a 1.83 % 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 in the last three months. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

ALHC has been the topic of a number of research analyst reports. Barclays lifted their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Bank of America boosted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Finally, Piper Sandler raised their target price on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $15.39.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $19.74 on Friday. Alignment Healthcare, Inc. has a one year low of $4.66 and a one year high of $21.06. The stock has a market cap of $3.79 billion, a PE ratio of -25.64 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The stock has a 50 day moving average price of $16.14 and a 200 day moving average price of $13.59.

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.