Adage Capital Partners GP L.L.C. Purchases 4,497 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Adage Capital Partners GP L.L.C. lifted its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 15.0% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 34,497 shares of the company’s stock after acquiring an additional 4,497 shares during the quarter. Adage Capital Partners GP L.L.C.’s holdings in Alignment Healthcare were worth $388,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. Hood River Capital Management LLC grew its position in shares of Alignment Healthcare by 39.6% in the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after buying an additional 1,405,212 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its position in shares of Alignment Healthcare by 54.7% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after buying an additional 3,059,596 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in shares of Alignment Healthcare by 53.0% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 2,005,777 shares of the company’s stock worth $22,566,000 after buying an additional 694,761 shares during the last quarter. Dark Forest Capital Management LP purchased a new position in shares of Alignment Healthcare in the 4th quarter worth approximately $150,000. Finally, Tower Research Capital LLC TRC grew its position in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after buying an additional 6,286 shares during the last quarter. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

Shares of NASDAQ ALHC opened at $17.72 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 12 month low of $5.14 and a 12 month high of $21.06. The company has a 50 day simple moving average of $17.17 and a two-hundred day simple moving average of $14.21. The stock has a market cap of $3.50 billion, a price-to-earnings ratio of -23.01 and a beta of 1.32.

Analyst Upgrades and Downgrades

A number of research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lifted their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research 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. Stephens reissued an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a research report on Monday, February 24th. Finally, Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 4th. One research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $16.61.

Insider Buying and Selling at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $13.72, for a total value of $411,600.00. Following the completion of the transaction, the president now directly owns 1,576,097 shares in the company, valued at $21,624,050.84. The trade was a 1.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Robert L. Scavo sold 2,864 shares of the business’s stock in a transaction on Thursday, March 27th. The shares were sold at an average price of $17.89, for a total transaction of $51,236.96. Following the completion of the transaction, the insider now owns 702,953 shares of the company’s stock, valued at approximately $12,575,829.17. This represents a 0.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 2,156,855 shares of company stock worth $34,744,307. Company 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.