Price T Rowe Associates Inc. MD Has $22.57 Million Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Price T Rowe Associates Inc. MD lifted its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 53.0% in the 4th quarter, HoldingsChannel reports. The institutional investor owned 2,005,777 shares of the company’s stock after purchasing an additional 694,761 shares during the quarter. Price T Rowe Associates Inc. MD’s holdings in Alignment Healthcare were worth $22,566,000 at the end of the most recent quarter.

A number of other hedge funds have also bought and sold shares of the company. Dark Forest Capital Management LP bought a new stake in Alignment Healthcare in the fourth quarter worth approximately $150,000. Tower Research Capital LLC TRC increased its stake 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 valued at $119,000 after acquiring an additional 6,286 shares in the last quarter. MetLife Investment Management LLC lifted its position in shares of Alignment Healthcare by 5.6% during the 4th quarter. MetLife Investment Management LLC now owns 61,344 shares of the company’s stock valued at $690,000 after acquiring an additional 3,256 shares during the period. 1492 Capital Management LLC boosted its stake in Alignment Healthcare by 51.1% during the fourth quarter. 1492 Capital Management LLC now owns 108,670 shares of the company’s stock worth $1,223,000 after acquiring an additional 36,755 shares in the last quarter. Finally, Jump Financial LLC grew its holdings in Alignment Healthcare by 31.5% in the fourth quarter. Jump Financial LLC now owns 105,200 shares of the company’s stock worth $1,184,000 after purchasing an additional 25,200 shares during the period. Institutional investors own 86.19% of the company’s stock.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $16.77 on Friday. The company has a fifty day moving average price of $17.23 and a 200-day moving average price of $14.24. The firm has a market cap of $3.32 billion, a price-to-earnings ratio of -21.78 and a beta of 1.32. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 1 year low of $5.16 and a 1 year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $926.93 million during the quarter, compared to the consensus estimate of $889.83 million. During the same period in the prior year, the firm posted ($0.25) EPS. The firm’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, equities research analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on the stock. JPMorgan Chase & Co. upped their price objective on shares of Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a report on Thursday, March 6th. Stifel Nicolaus increased their price target on Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a report on Tuesday, April 8th. Barclays boosted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a report on Friday, February 28th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stephens reissued an “overweight” rating and issued a $17.00 price target 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 assigned a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $16.61.

Insider Buying and Selling

In other news, insider Andreas P. Wagner sold 14,878 shares of the firm’s stock in a transaction 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 completion of the sale, the insider now directly owns 200,885 shares of the company’s stock, valued at $2,888,726.30. This trade represents a 6.90 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, President Dawn Christine Maroney sold 230,000 shares of the business’s stock in a transaction dated Monday, April 14th. The stock was sold at an average price of $19.10, for a total transaction of $4,393,000.00. Following the completion of the transaction, the president now directly owns 2,132,899 shares in the company, valued at $40,738,370.90. This trade represents a 9.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,156,855 shares of company stock worth $34,744,307. 6.60% of the stock is owned by company insiders.

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.