Caisse Des Depots ET Consignations Makes New Investment in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Caisse Des Depots ET Consignations bought a new stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, HoldingsChannel reports. The fund bought 199,391 shares of the company’s stock, valued at approximately $2,243,000.

Several other hedge funds have also modified their holdings of the stock. William Blair Investment Management LLC boosted its stake in shares of Alignment Healthcare by 50.7% in the fourth quarter. William Blair Investment Management LLC now owns 2,972,647 shares of the company’s stock valued at $33,442,000 after purchasing an additional 999,940 shares during the period. Allspring Global Investments Holdings LLC lifted its holdings in Alignment Healthcare by 1,672.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock worth $7,591,000 after buying an additional 619,592 shares in the last quarter. Royce & Associates LP lifted its holdings in Alignment Healthcare by 144.3% in the 4th quarter. Royce & Associates LP now owns 781,680 shares of the company’s stock worth $8,794,000 after buying an additional 461,680 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Alignment Healthcare by 249.3% in the 3rd quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after buying an additional 205,705 shares during the last quarter. Finally, Principal Financial Group Inc. grew its stake in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after acquiring an additional 180,522 shares in the last quarter. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

ALHC has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. raised their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Piper Sandler lifted their price target on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Stephens reiterated an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Stifel Nicolaus boosted their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. One 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 stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $14.83.

Alignment Healthcare Price Performance

Shares of NASDAQ ALHC opened at $18.13 on Friday. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $18.22. The firm has a market capitalization of $3.48 billion, a PE ratio of -23.55 and a beta of 1.49. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. The business’s fifty day moving average price is $15.21 and its two-hundred day moving average price is $12.91.

Insider Buying and Selling

In related news, CEO John E. Kao sold 554,713 shares of the stock in a transaction that occurred on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total value of $8,614,692.89. Following the completion of the transaction, the chief executive officer now directly owns 4,733,664 shares of the company’s stock, valued at $73,513,801.92. This represents a 10.49 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, President Dawn Christine Maroney sold 278,917 shares of Alignment Healthcare stock in a transaction on 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 sale, the president now directly owns 2,303,975 shares in the company, valued at $35,780,731.75. The trade was a 10.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 1,901,665 shares of company stock valued at $29,141,513 in the last quarter. Company insiders own 6.60% of the company’s stock.

Alignment Healthcare 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.