Ballentine Partners LLC Acquires Shares of 10,750 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Ballentine Partners LLC purchased a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, HoldingsChannel.com reports. The firm purchased 10,750 shares of the company’s stock, valued at approximately $121,000.

Several other institutional investors have also modified their holdings of ALHC. Royce & Associates LP acquired a new position in shares of Alignment Healthcare in the 3rd quarter valued at about $3,782,000. JPMorgan Chase & Co. raised its stake in shares of Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock worth $3,407,000 after buying an additional 205,705 shares in the last quarter. AQR Capital Management LLC bought a new position in shares of Alignment Healthcare during the 2nd quarter valued at about $1,512,000. Principal Financial Group Inc. increased its holdings in shares of Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares in the last quarter. Finally, Barclays PLC lifted its holdings in shares of Alignment Healthcare by 144.1% during the third 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. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $14.97 on Monday. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $15.05. The firm has a market cap of $2.87 billion, a PE ratio of -19.44 and a beta of 1.45. 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 business has a fifty day moving average of $12.13 and a 200-day moving average of $11.04.

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

Analyst Upgrades and Downgrades

Several brokerages have issued reports on ALHC. UBS Group boosted their target price on shares of Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research note on Wednesday, October 30th. Barclays raised their target price on Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a report on Wednesday, October 30th. Stifel Nicolaus lifted their target price on shares of Alignment Healthcare from $14.00 to $16.00 and gave the stock a “buy” rating in a report on Tuesday, January 14th. KeyCorp began coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating on the stock. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research report on Thursday, January 2nd. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.88.

Insider Transactions at Alignment Healthcare

In other Alignment Healthcare news, insider Hakan Kardes sold 14,500 shares of the business’s stock in a transaction dated Friday, January 24th. The stock was sold at an average price of $14.98, for a total value of $217,210.00. Following the completion of the transaction, the insider now directly owns 295,444 shares of the company’s stock, valued at approximately $4,425,751.12. The trade was a 4.68 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on Friday, November 15th. The stock was sold at an average price of $11.35, for a total transaction of $340,500.00. Following the sale, the insider now owns 1,696,097 shares in the company, valued at $19,250,700.95. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 564,224 shares of company stock worth $7,182,895 in the last three months. Insiders own 6.60% of the company’s stock.

About Alignment Healthcare

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.