Royce & Associates LP Acquires 461,680 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Royce & Associates LP increased its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 144.3% during the fourth quarter, Holdings Channel reports. The fund owned 781,680 shares of the company’s stock after acquiring an additional 461,680 shares during the quarter. Royce & Associates LP’s holdings in Alignment Healthcare were worth $8,794,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. R Squared Ltd acquired a new position in shares of Alignment Healthcare in the fourth quarter valued at $55,000. Ballentine Partners LLC acquired a new position in Alignment Healthcare in the 4th quarter valued at about $121,000. Aigen Investment Management LP bought a new position in Alignment Healthcare in the 4th quarter valued at about $129,000. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in Alignment Healthcare during the third quarter worth approximately $131,000. Finally, AlphaQuest LLC bought a new stake in shares of Alignment Healthcare during the fourth quarter worth approximately $132,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insider Buying and Selling at Alignment Healthcare

In other news, President Dawn Christine Maroney sold 278,917 shares of the stock in a transaction dated Thursday, March 6th. The shares were sold at an average price of $15.53, for a total value of $4,331,581.01. Following the completion of the transaction, the president now owns 2,303,975 shares of the company’s stock, valued at approximately $35,780,731.75. This represents a 10.80 % 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, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares in the company, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,829,454 shares of company stock valued at $27,936,991. 6.60% of the stock is currently owned by corporate insiders.

Alignment Healthcare Stock Performance

NASDAQ ALHC opened at $16.74 on Wednesday. The firm’s 50 day simple moving average is $14.58 and its 200 day simple moving average is $12.56. The firm has a market capitalization of $3.21 billion, a price-to-earnings ratio of -21.74 and a beta of 1.49. 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 1 year low of $4.46 and a 1 year high of $17.24.

Analysts Set New Price Targets

ALHC has been the topic of a number of recent research reports. Stifel Nicolaus increased 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. JPMorgan Chase & Co. increased their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a research report on Thursday, March 6th. Barclays boosted their target price 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. Bank of America lifted their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. Finally, Piper Sandler boosted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus price target of $14.83.

Alignment Healthcare Company Profile

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.