Simplify Asset Management Inc. Buys Shares of 132,774 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Simplify Asset Management Inc. purchased a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 4th quarter, Holdings Channel.com reports. The institutional investor purchased 132,774 shares of the company’s stock, valued at approximately $1,494,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of ALHC. Principal Financial Group Inc. lifted its holdings in Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock worth $2,294,000 after buying an additional 180,522 shares during the period. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare in the 3rd quarter worth $131,000. Intech Investment Management LLC purchased a new stake in shares of Alignment Healthcare during the 3rd quarter worth $315,000. Charles Schwab Investment Management Inc. grew its stake in Alignment Healthcare by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after purchasing an additional 13,865 shares during the last quarter. Finally, Algert Global LLC raised its holdings in Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock worth $956,000 after purchasing an additional 25,050 shares in the last quarter. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Up 2.5 %

Alignment Healthcare stock opened at $17.61 on Friday. The business’s 50-day simple moving average is $14.90 and its two-hundred day simple moving average is $12.71. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market cap of $3.38 billion, a PE ratio of -22.87 and a beta of 1.49. Alignment Healthcare, Inc. has a fifty-two week low of $4.46 and a fifty-two week high of $17.76.

Analyst Ratings Changes

A number of research firms have recently weighed in on ALHC. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Stephens reaffirmed an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Piper Sandler increased their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Stifel Nicolaus boosted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research note on Friday, February 28th. Finally, JPMorgan Chase & Co. increased their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. 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 given a strong buy rating to the company’s stock. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Insider Buying and Selling

In other Alignment Healthcare news, CFO Robert Thomas Freeman sold 13,815 shares of the stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total transaction of $233,335.35. Following the sale, the chief financial officer now directly owns 1,482,595 shares of the company’s stock, valued at approximately $25,041,029.55. This trade represents a 0.92 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO John E. Kao sold 27,535 shares of the business’s stock in a transaction dated Tuesday, March 18th. The shares were sold at an average price of $16.89, for a total value of $465,066.15. Following the completion of the transaction, the chief executive officer now directly owns 4,991,717 shares of the company’s stock, valued at approximately $84,310,100.13. This trade represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 1,901,665 shares of company stock valued at $29,141,513 over the last quarter. 6.60% of the stock is currently 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.