Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Rhenman & Partners Asset Management AB

Rhenman & Partners Asset Management AB lowered its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 10.9% in the fourth quarter, HoldingsChannel reports. The fund owned 1,761,192 shares of the company’s stock after selling 216,171 shares during the quarter. Alignment Healthcare makes up about 2.0% of Rhenman & Partners Asset Management AB’s portfolio, making the stock its 16th largest position. Rhenman & Partners Asset Management AB’s holdings in Alignment Healthcare were worth $19,813,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the stock. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 1.7% in the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after purchasing an additional 166,837 shares during the period. Wellington Management Group LLP boosted its holdings 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 valued at $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. William Blair Investment Management LLC grew its stake in shares of Alignment Healthcare by 50.7% during 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 buying an additional 999,940 shares during the period. Geode Capital Management LLC increased its holdings in shares of Alignment Healthcare by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock worth $28,875,000 after buying an additional 32,839 shares during the last quarter. Finally, State Street Corp raised its position in shares of Alignment Healthcare by 0.9% in the 3rd quarter. State Street Corp now owns 2,252,287 shares of the company’s stock worth $26,622,000 after buying an additional 20,731 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 30,000 shares of the business’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 value of $408,300.00. Following the completion of the sale, the president now directly owns 1,606,097 shares in the company, valued at approximately $21,858,980.17. The trade was a 1.83 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Robert L. Scavo sold 2,864 shares of the stock in a transaction on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total transaction of $51,236.96. Following the sale, the insider now directly owns 702,953 shares in the company, valued at $12,575,829.17. This trade represents a 0.41 % decrease in their ownership of the stock. 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 90 days. 6.60% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research firms have issued reports on ALHC. Barclays boosted their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Stifel Nicolaus boosted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Bank of America raised their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. JPMorgan Chase & Co. boosted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Finally, Piper Sandler increased their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock 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 given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Price Performance

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

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.