Geode Capital Management LLC Has $28.88 Million Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Geode Capital Management LLC grew its holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1.4% in the third quarter, HoldingsChannel.com reports. The institutional investor owned 2,442,447 shares of the company’s stock after acquiring an additional 32,839 shares during the period. Geode Capital Management LLC’s holdings in Alignment Healthcare were worth $28,875,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Barclays PLC lifted its holdings in Alignment Healthcare by 144.1% during the 3rd quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares during the last quarter. Y Intercept Hong Kong Ltd bought a new position in shares of Alignment Healthcare in the third quarter valued at about $523,000. State Street Corp lifted its stake in shares of Alignment Healthcare by 0.9% during 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 last quarter. Atom Investors LP bought a new stake in shares of Alignment Healthcare during the 3rd quarter worth about $961,000. Finally, PDT Partners LLC grew its stake in Alignment Healthcare by 14.3% in the 3rd quarter. PDT Partners LLC now owns 125,532 shares of the company’s stock valued at $1,484,000 after buying an additional 15,726 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

ALHC has been the subject of a number of research analyst reports. KeyCorp initiated coverage on Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. UBS Group upped their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Stephens raised shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $13.00 to $17.00 in a research report on Tuesday, December 3rd. Finally, Barclays raised their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. One equities research analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $11.44.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 21,375 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.66, for a total value of $227,857.50. Following the sale, the chief financial officer now directly owns 243,054 shares in the company, valued at approximately $2,590,955.64. This trade represents a 8.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total transaction of $323,100.00. Following the transaction, the insider now owns 1,726,097 shares of the company’s stock, valued at approximately $18,590,064.69. This represents a 1.71 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,546 shares of company stock worth $7,875,008. Insiders own 6.60% of the company’s stock.

Alignment Healthcare Price Performance

ALHC stock opened at $10.84 on Friday. The company’s 50-day moving average price is $11.87 and its two-hundred day moving average price is $10.26. The firm has a market cap of $2.08 billion, a P/E ratio of -14.08 and a beta of 1.42. 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, Inc. has a 12 month low of $4.46 and a 12 month high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Tuesday, October 29th. The company reported ($0.14) earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of ($0.14). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same period last year, the firm posted ($0.19) earnings per share. The firm’s quarterly revenue was up 51.6% compared to the same quarter last year. On average, analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.