1,785,480 Shares in Alignment Healthcare, Inc. (NASDAQ:ALHC) Bought by Point72 Asset Management L.P.

Point72 Asset Management L.P. acquired a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,785,480 shares of the company’s stock, valued at approximately $20,087,000. Point72 Asset Management L.P. owned about 0.93% of Alignment Healthcare at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in shares of Alignment Healthcare by 3.9% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 56,963 shares of the company’s stock worth $641,000 after purchasing an additional 2,154 shares during the last quarter. Rhumbline Advisers raised its stake in Alignment Healthcare by 2.2% in the fourth quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after buying an additional 2,937 shares during the last quarter. MetLife Investment Management LLC raised its stake in Alignment Healthcare by 5.6% in the fourth quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after buying an additional 3,256 shares during the last quarter. Alliancebernstein L.P. raised its stake in Alignment Healthcare by 2.8% in the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock valued at $1,344,000 after buying an additional 3,300 shares during the last quarter. Finally, Adage Capital Partners GP L.L.C. raised its stake in Alignment Healthcare by 15.0% in the fourth quarter. Adage Capital Partners GP L.L.C. now owns 34,497 shares of the company’s stock valued at $388,000 after buying an additional 4,497 shares during the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Alignment Healthcare Stock Up 5.9%

Alignment Healthcare stock opened at $15.78 on Friday. The firm has a market cap of $3.12 billion, a price-to-earnings ratio of -20.49 and a beta of 1.32. Alignment Healthcare, Inc. has a 52 week low of $6.92 and a 52 week high of $21.06. The business’s 50-day moving average price is $17.31 and its 200 day moving average price is $14.58. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, topping the consensus estimate of ($0.12) by $0.07. The firm had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. Alignment Healthcare’s revenue for the quarter was up 47.5% compared to the same quarter last year. During the same period last year, the company earned ($0.25) earnings per share. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Robert L. Scavo sold 2,864 shares of the firm’s stock in a transaction that occurred on Thursday, March 27th. The stock was sold at an average price of $17.89, for a total value of $51,236.96. Following the sale, the insider now directly owns 702,953 shares of the company’s stock, valued at approximately $12,575,829.17. This trade represents a 0.41% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the sale, the president now directly owns 1,576,097 shares in the company, valued at approximately $21,624,050.84. The trade was a 1.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,196,977 shares of company stock valued at $35,453,111. Company insiders own 7.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on the company. UBS Group increased their price target on Alignment Healthcare from $16.00 to $17.00 and gave the company a “neutral” rating in a research note on Friday, May 2nd. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Barclays increased their price target on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research note on Thursday, March 6th. Finally, Stifel Nicolaus raised their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $17.17.

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.