Y Intercept Hong Kong Ltd Buys New Position in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Y Intercept Hong Kong Ltd purchased a new position in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 44,218 shares of the company’s stock, valued at approximately $523,000.

A number of other institutional investors also recently made changes to their positions in the stock. Deerfield Management Company L.P. Series C lifted its holdings in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after buying an additional 2,630,788 shares during the period. William Blair Investment Management LLC lifted its holdings in Alignment Healthcare by 94.4% in the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after acquiring an additional 1,507,759 shares during the last quarter. Royce & Associates LP acquired a new stake in Alignment Healthcare in the 3rd quarter valued at about $3,782,000. Renaissance Technologies LLC grew its stake in shares of Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock worth $12,245,000 after purchasing an additional 225,000 shares during the last quarter. Finally, AQR Capital Management LLC bought a new stake in shares of Alignment Healthcare in the 2nd quarter worth approximately $1,512,000. 86.19% of the stock is owned by institutional investors and hedge funds.

Alignment Healthcare Stock Up 3.0 %

NASDAQ:ALHC opened at $11.45 on Monday. The business’s fifty day moving average price is $11.98 and its 200 day moving average price is $10.12. The firm has a market capitalization of $2.19 billion, a price-to-earnings ratio of -14.87 and a beta of 1.42. 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 $14.25.

Alignment Healthcare (NASDAQ:ALHC) last released its earnings results on Tuesday, October 29th. The company reported ($0.14) earnings per share for the quarter, meeting the consensus estimate of ($0.14). The company had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The business’s revenue for the quarter was up 51.6% on a year-over-year basis. During the same quarter in the previous year, the business posted ($0.19) EPS. On average, sell-side analysts forecast that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ALHC. Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $13.00 to $17.00 in a report on Tuesday, December 3rd. KeyCorp started coverage on Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Barclays boosted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a research report on Wednesday, October 30th. One analyst has rated the stock with a sell rating, two have issued a hold rating, seven have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $11.44.

Insider Buying and Selling at Alignment Healthcare

In other Alignment Healthcare news, insider Hyong Kim sold 22,460 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $11.03, for a total value of $247,733.80. Following the transaction, the insider now owns 533,070 shares in the company, valued at $5,879,762.10. The trade was a 4.04 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction dated Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at approximately $28,813,323. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 653,546 shares of company stock worth $7,875,008. 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.