State of Wyoming Lowers Stock Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

State of Wyoming reduced its position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 28.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 26,337 shares of the company’s stock after selling 10,527 shares during the period. State of Wyoming’s holdings in Alignment Healthcare were worth $296,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. R Squared Ltd purchased a new stake in Alignment Healthcare in the 4th quarter valued at about $55,000. RiverPark Advisors LLC bought a new position in shares of Alignment Healthcare in the fourth quarter valued at approximately $106,000. Tower Research Capital LLC TRC increased its position in shares of Alignment Healthcare by 146.7% during the fourth 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 during the last quarter. Ballentine Partners LLC bought a new stake in Alignment Healthcare during the fourth quarter worth $121,000. Finally, Aigen Investment Management LP bought a new stake in Alignment Healthcare during the fourth quarter worth $129,000. 86.19% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, insider Andreas P. Wagner sold 7,632 shares of the firm’s stock in a transaction that occurred on Wednesday, March 19th. The shares were sold at an average price of $16.40, for a total value of $125,164.80. Following the completion of the transaction, the insider now directly owns 223,474 shares in the company, valued at approximately $3,664,973.60. This trade represents a 3.30% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Atlantic (Aln Hlth) L. General sold 17,000,000 shares of the business’s stock in a transaction that occurred on Monday, May 19th. The shares were sold at an average price of $15.28, for a total transaction of $259,760,000.00. Following the transaction, the director now directly owns 44,302,175 shares of the company’s stock, valued at approximately $676,937,234. This represents a 27.73% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 19,166,977 shares of company stock worth $294,801,511 over the last 90 days. Corporate insiders own 7.00% of the company’s stock.

Alignment Healthcare Price Performance

NASDAQ ALHC opened at $14.49 on Friday. The company has a market cap of $2.87 billion, a PE ratio of -18.82 and a beta of 1.32. Alignment Healthcare, Inc. has a 52 week low of $6.92 and a 52 week high of $21.06. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm’s 50-day simple moving average is $17.28 and its two-hundred day simple moving average is $14.64.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on ALHC. Piper Sandler upped their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Barclays increased their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research report on Friday, February 28th. Stephens restated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. Robert W. Baird lifted their price objective on shares of Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 15th. Finally, William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. One equities research 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 data from MarketBeat, Alignment Healthcare has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

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.