Connor Clark & Lunn Investment Management Ltd. Makes New $131,000 Investment in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 11,085 shares of the company’s stock, valued at approximately $131,000.

Several other large investors also recently made changes to their positions in the business. Creative Planning boosted its holdings in Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock worth $147,000 after buying an additional 2,072 shares in the last quarter. Principal Financial Group Inc. boosted its stake in shares of Alignment Healthcare by 18.1% during the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after acquiring an additional 2,077 shares in the last quarter. nVerses Capital LLC bought a new stake in shares of Alignment Healthcare during the 3rd quarter worth $95,000. The Manufacturers Life Insurance Company grew its holdings in shares of Alignment Healthcare by 20.9% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after acquiring an additional 9,595 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in shares of Alignment Healthcare during the first quarter worth $57,000. Institutional investors own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Hakan Kardes sold 35,000 shares of the firm’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the transaction, the insider now directly owns 320,444 shares in the company, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction dated Friday, November 15th. The stock was sold at an average price of $11.35, for a total value of $340,500.00. Following the sale, the insider now owns 1,696,097 shares of the company’s stock, valued at approximately $19,250,700.95. This trade represents a 1.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 543,433 shares of company stock worth $6,543,028 over the last ninety days. 6.60% of the stock is currently owned by insiders.

Analyst Ratings Changes

ALHC has been the subject of a number of recent analyst reports. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. Barclays raised their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Robert W. Baird upped their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. KeyCorp started coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Finally, TD Cowen increased their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a report on Tuesday, August 6th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average target price of $10.33.

Alignment Healthcare Trading Down 1.7 %

NASDAQ ALHC opened at $12.61 on Monday. The company has a market capitalization of $2.42 billion, a PE ratio of -16.38 and a beta of 1.45. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $14.25. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm’s fifty day simple moving average is $11.81 and its 200-day simple moving average is $9.77.

Alignment Healthcare (NASDAQ:ALHC) last posted its quarterly earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, hitting analysts’ consensus estimates of ($0.14). The company had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s quarterly revenue was up 51.6% on a year-over-year basis. During the same period last year, the business earned ($0.19) EPS. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

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.