Charles Schwab Investment Management Inc. Boosts Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Charles Schwab Investment Management Inc. lifted its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 1.0% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 847,974 shares of the company’s stock after buying an additional 8,279 shares during the period. Charles Schwab Investment Management Inc.’s holdings in Alignment Healthcare were worth $9,540,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. R Squared Ltd purchased a new position in Alignment Healthcare in the fourth quarter valued at about $55,000. Ballentine Partners LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $121,000. Connor Clark & Lunn Investment Management Ltd. acquired a new position in shares of Alignment Healthcare during the 3rd quarter valued at $131,000. Proficio Capital Partners LLC acquired a new position in shares of Alignment Healthcare during the 4th quarter valued at $184,000. Finally, Intech Investment Management LLC acquired a new position in shares of Alignment Healthcare during the 3rd quarter valued at $315,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Trading Up 2.5 %

Alignment Healthcare stock opened at $17.61 on Friday. The firm has a 50 day simple moving average of $14.90 and a 200-day simple moving average of $12.71. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The stock has a market capitalization of $3.38 billion, a PE ratio of -22.87 and a beta of 1.49. Alignment Healthcare, Inc. has a 12-month low of $4.46 and a 12-month high of $17.76.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on ALHC shares. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Bank of America boosted their target price on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. Barclays boosted their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. JPMorgan Chase & Co. boosted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Finally, Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Insider Activity

In related news, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total transaction 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. This trade represents a 1.83 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Andreas P. Wagner sold 14,878 shares of the firm’s stock in a transaction that occurred on Wednesday, February 12th. The stock was sold at an average price of $14.38, for a total transaction of $213,945.64. Following the sale, the insider now owns 200,885 shares of the company’s stock, valued at $2,888,726.30. The trade was a 6.90 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 1,901,665 shares of company stock worth $29,141,513 over the last three months. Corporate insiders own 6.60% of the company’s stock.

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.