Numerai GP LLC Cuts Stake in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Numerai GP LLC cut its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 10.6% in the 4th quarter, Holdings Channel.com reports. The fund owned 97,143 shares of the company’s stock after selling 11,519 shares during the period. Numerai GP LLC’s holdings in Alignment Healthcare were worth $1,093,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. boosted its position in shares of Alignment Healthcare by 1.7% during the fourth quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock valued at $110,453,000 after buying an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. boosted its position in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock worth $97,302,000 after purchasing an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP boosted its position in Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after purchasing an additional 3,257,630 shares during the last quarter. Hood River Capital Management LLC boosted its position in Alignment Healthcare by 39.6% in the fourth quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock worth $55,721,000 after purchasing an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC boosted its position in Alignment Healthcare by 49.5% in the fourth quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock worth $41,160,000 after purchasing an additional 1,211,727 shares during the last quarter. 86.19% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

ALHC has been the topic of several research reports. Bank of America raised their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. UBS Group raised their target price on Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Barclays raised their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Robert W. Baird raised their target price on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average price target of $17.17.

Insider Activity at Alignment Healthcare

In related news, President Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, February 18th. The stock was sold at an average price of $13.72, for a total transaction of $411,600.00. Following the sale, the president now owns 1,576,097 shares of the company’s stock, valued at approximately $21,624,050.84. This trade represents a 1.87% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Robert Thomas Freeman sold 250,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $15.58, for a total value of $3,895,000.00. Following the sale, the chief financial officer now directly owns 1,635,849 shares in the company, valued at $25,486,527.42. This trade represents a 13.26% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,076,977 shares of company stock valued at $33,671,411. 7.00% of the stock is owned by company insiders.

Alignment Healthcare Stock Down 5.8%

NASDAQ ALHC opened at $14.05 on Wednesday. The stock’s 50-day moving average price is $17.30 and its 200-day moving average price is $14.50. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 52 week low of $6.82 and a 52 week high of $21.06. The company has a market capitalization of $2.78 billion, a P/E ratio of -18.25 and a beta of 1.32.

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