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

Royce & Associates LP raised its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 144.3% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 781,680 shares of the company’s stock after buying an additional 461,680 shares during the quarter. Royce & Associates LP owned about 0.41% of Alignment Healthcare worth $8,794,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently modified their holdings of the company. AlphaQuest LLC acquired a new position in Alignment Healthcare during the fourth quarter valued at approximately $132,000. Raymond James Financial Inc. bought a new position in shares of Alignment Healthcare during the fourth quarter worth $1,769,000. Aigen Investment Management LP bought a new position in shares of Alignment Healthcare during the fourth quarter worth $129,000. Proficio Capital Partners LLC acquired a new position in shares of Alignment Healthcare in the 4th quarter valued at $184,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alignment Healthcare by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company’s stock valued at $9,540,000 after buying an additional 8,279 shares in the last quarter. 86.19% of the stock is owned by institutional investors.

Alignment Healthcare Trading Up 4.0 %

Alignment Healthcare stock opened at $16.74 on Wednesday. The company has a market cap of $3.21 billion, a price-to-earnings ratio of -21.74 and a beta of 1.49. The firm has a 50-day moving average of $14.58 and a 200-day moving average of $12.56. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $17.24.

Analyst Upgrades and Downgrades

A number of research firms have issued reports on ALHC. Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research report on Friday, February 28th. Stephens restated an “overweight” rating and set a $17.00 target price on shares of Alignment Healthcare in a report on Monday, February 24th. Bank of America upped their price target on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, William Blair restated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $14.83.

Insider Activity at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $13.06, for a total transaction of $1,175,400.00. Following the sale, the chief executive officer now owns 2,273,100 shares in the company, valued at $29,686,686. This represents a 3.81 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, President Dawn Christine Maroney sold 30,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total transaction of $408,300.00. Following the completion of the transaction, the president now directly owns 1,606,097 shares of the company’s stock, valued at $21,858,980.17. This represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,829,454 shares of company stock valued at $27,936,991. Insiders own 6.60% of the company’s stock.

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.