Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Mackenzie Financial Corp

Mackenzie Financial Corp decreased its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 57.8% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 13,123 shares of the company’s stock after selling 17,946 shares during the quarter. Mackenzie Financial Corp’s holdings in Alignment Healthcare were worth $113,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Teza Capital Management LLC bought a new stake in shares of Alignment Healthcare during the 3rd quarter worth $109,000. Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at $116,000. Zurcher Kantonalbank Zurich Cantonalbank boosted its position in shares of Alignment Healthcare by 75.5% in the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 26,427 shares of the company’s stock valued at $183,000 after purchasing an additional 11,370 shares during the period. Dark Forest Capital Management LP purchased a new position in Alignment Healthcare in the 3rd quarter worth about $187,000. Finally, Quantbot Technologies LP acquired a new stake in Alignment Healthcare during the 3rd quarter worth about $191,000. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 2.5 %

NASDAQ ALHC opened at $5.08 on Tuesday. The company has a market capitalization of $960.02 million, a PE ratio of -6.43 and a beta of 1.30. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $9.20. The company has a current ratio of 1.84, a quick ratio of 1.84 and a debt-to-equity ratio of 1.02. The firm’s fifty day simple moving average is $5.19 and its 200-day simple moving average is $6.58.

Alignment Healthcare (NASDAQ:ALHC) last issued its earnings results on Tuesday, February 27th. The company reported ($0.25) earnings per share for the quarter, missing the consensus estimate of ($0.22) by ($0.03). Alignment Healthcare had a negative return on equity of 75.64% and a negative net margin of 8.12%. The firm had revenue of $465.39 million during the quarter, compared to analyst estimates of $444.56 million. During the same period in the previous year, the company earned ($0.31) earnings per share. The business’s revenue for the quarter was up 28.6% on a year-over-year basis. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.6 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ALHC shares. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Wednesday, March 6th. Barclays initiated coverage on shares of Alignment Healthcare in a research note on Wednesday, March 6th. They set an “underweight” rating and a $4.50 target price on the stock. Piper Sandler restated a “neutral” rating and issued a $6.00 target price (down previously from $12.00) on shares of Alignment Healthcare in a report on Wednesday, March 6th. UBS Group lowered their price target on Alignment Healthcare from $9.00 to $8.50 and set a “neutral” rating on the stock in a report on Wednesday, February 28th. Finally, Raymond James increased their price objective on Alignment Healthcare from $10.00 to $12.00 and gave the stock a “strong-buy” rating in a research note on Tuesday, January 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $9.18.

Insider Buying and Selling

In other Alignment Healthcare news, insider Dawn Christine Maroney sold 23,000 shares of Alignment Healthcare stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the completion of the sale, the insider now directly owns 1,830,008 shares in the company, valued at $9,955,243.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CFO Robert Thomas Freeman sold 28,522 shares of the company’s stock in a transaction on Tuesday, March 19th. The shares were sold at an average price of $5.05, for a total value of $144,036.10. Following the completion of the sale, the chief financial officer now directly owns 869,706 shares in the company, valued at $4,392,015.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 23,000 shares of the firm’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $5.44, for a total value of $125,120.00. Following the transaction, the insider now owns 1,830,008 shares in the company, valued at $9,955,243.52. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 90,213 shares of company stock worth $460,587. Insiders own 6.30% 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.