Millennium Management LLC boosted its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC - Free Report) by 588.3% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,388,602 shares of the company's stock after purchasing an additional 2,896,311 shares during the quarter. Millennium Management LLC owned about 1.77% of Alignment Healthcare worth $38,122,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in ALHC. R Squared Ltd bought a new stake in Alignment Healthcare during the 4th quarter worth about $55,000. RiverPark Advisors LLC acquired a new position in shares of Alignment Healthcare during the 4th quarter worth about $106,000. Tower Research Capital LLC TRC grew its position 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 buying an additional 6,286 shares during the period. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the 4th quarter worth about $129,000. 86.19% of the stock is owned by institutional investors.
Insiders Place Their Bets
In other Alignment Healthcare news, President Dawn Christine Maroney sold 278,917 shares of the company's stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $4,331,581.01. Following the completion of the transaction, the president now owns 2,303,975 shares of the company's stock, valued at $35,780,731.75. This represents a 10.80% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the company's stock in a transaction that occurred 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 transaction, 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 position. The disclosure for this sale can be found here. Insiders sold a total of 19,166,977 shares of company stock valued at $294,801,511 in the last quarter. 7.00% of the stock is currently owned by insiders.
Alignment Healthcare Stock Down 0.1%
NASDAQ ALHC traded down $0.01 during trading hours on Friday, reaching $14.48. 2,346,081 shares of the company's stock were exchanged, compared to its average volume of 1,937,601. The company's 50-day moving average is $17.24 and its two-hundred day moving average is $14.64. Alignment Healthcare, Inc. has a one year low of $6.92 and a one year high of $21.06. 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 company has a market capitalization of $2.86 billion, a price-to-earnings ratio of -18.81 and a beta of 1.32.
Alignment Healthcare (NASDAQ:ALHC - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping 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 prior year, the business earned ($0.25) EPS. Alignment Healthcare's revenue for the quarter was up 47.5% compared to the same quarter last year. On average, analysts forecast that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.
Wall Street Analyst Weigh In
Several research firms have recently issued reports on ALHC. JPMorgan Chase & Co. boosted 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. UBS Group boosted 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. William Blair restated an "outperform" rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Robert W. Baird boosted their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an "outperform" rating in a research report on Tuesday, April 15th. Finally, Piper Sandler boosted their price objective 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 research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $17.17.
Read Our Latest Analysis on Alignment Healthcare
Alignment Healthcare Company Profile
(
Free Report)
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.
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