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

Simplify Asset Management Inc. acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 132,774 shares of the company’s stock, valued at approximately $1,494,000. Simplify Asset Management Inc. owned 0.07% of Alignment Healthcare as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rhumbline Advisers grew its holdings in Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock valued at $1,527,000 after buying an additional 2,937 shares in the last quarter. R Squared Ltd bought a new position in shares of Alignment Healthcare during the fourth quarter worth $55,000. SG Americas Securities LLC increased its holdings in Alignment Healthcare by 11.7% in the 4th quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock valued at $554,000 after acquiring an additional 5,163 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in Alignment Healthcare by 1.0% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company’s stock worth $9,540,000 after purchasing an additional 8,279 shares in the last quarter. Finally, Ballentine Partners LLC bought a new position in shares of Alignment Healthcare during the 4th quarter valued at about $121,000. Institutional investors own 86.19% of the company’s stock.

Insider Activity

In other news, CFO Robert Thomas Freeman sold 13,815 shares of the company’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 $233,335.35. Following the transaction, the chief financial officer now directly owns 1,482,595 shares in the company, valued at approximately $25,041,029.55. This represents a 0.92 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO John E. Kao sold 27,535 shares of the firm’s stock in a transaction dated Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total transaction of $465,066.15. Following the completion of the transaction, the chief executive officer now directly owns 4,991,717 shares in the company, valued at $84,310,100.13. This represents a 0.55 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 1,901,665 shares of company stock valued at $29,141,513. 6.60% of the stock is currently owned by insiders.

Analysts Set New Price Targets

ALHC has been the topic of a number of research analyst reports. Barclays boosted their target price on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Stifel Nicolaus increased their target price 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 issued a $17.00 price target on shares of Alignment Healthcare in a research report on Monday, February 24th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a research report on Friday, February 28th. Finally, Piper Sandler boosted their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $17.61 on Friday. 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 firm has a market capitalization of $3.38 billion, a P/E ratio of -22.87 and a beta of 1.49. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $17.76. The company’s 50-day moving average is $14.90 and its 200 day moving average is $12.71.

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.