Navellier & Associates Inc. Takes Position in Alignment Healthcare, Inc. $ALHC

Navellier & Associates Inc. acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 30,107 shares of the company’s stock, valued at approximately $525,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas boosted its position in shares of Alignment Healthcare by 85.8% in the third quarter. Teacher Retirement System of Texas now owns 102,827 shares of the company’s stock worth $1,794,000 after buying an additional 47,472 shares during the period. Y Intercept Hong Kong Ltd purchased a new stake in Alignment Healthcare in the 3rd quarter worth about $3,499,000. Inspire Investing LLC purchased a new stake in Alignment Healthcare in the 3rd quarter worth about $1,129,000. Ameritas Investment Partners Inc. boosted its position in Alignment Healthcare by 32.9% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 13,031 shares of the company’s stock worth $182,000 after acquiring an additional 3,225 shares during the period. Finally, Jump Financial LLC boosted its position in Alignment Healthcare by 173.8% during the 2nd quarter. Jump Financial LLC now owns 1,056,600 shares of the company’s stock worth $14,792,000 after acquiring an additional 670,750 shares during the period. 86.19% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on ALHC. JPMorgan Chase & Co. upped their target price on Alignment Healthcare from $23.00 to $26.00 and gave the company an “overweight” rating in a report on Thursday, February 5th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of Alignment Healthcare in a research report on Wednesday, January 21st. Robert W. Baird set a $28.00 price objective on shares of Alignment Healthcare in a research note on Friday, January 30th. Piper Sandler lifted their target price on shares of Alignment Healthcare from $20.00 to $30.00 and gave the company an “overweight” rating in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group restated a “buy” rating and set a $22.00 price target on shares of Alignment Healthcare in a report on Monday, November 3rd. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating, three have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $23.32.

Alignment Healthcare Stock Performance

ALHC stock opened at $20.39 on Thursday. The firm has a 50 day moving average of $20.88 and a two-hundred day moving average of $17.98. Alignment Healthcare, Inc. has a 12 month low of $11.63 and a 12 month high of $23.87. The company has a market capitalization of $4.08 billion, a price-to-earnings ratio of -169.92, a P/E/G ratio of 5.26 and a beta of 1.16. The company has a quick ratio of 1.61, a current ratio of 1.61 and a debt-to-equity ratio of 1.99.

Insiders Place Their Bets

In related news, insider Andreas P. Wagner sold 22,238 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $20.47, for a total value of $455,211.86. Following the completion of the sale, the insider directly owned 169,805 shares in the company, valued at approximately $3,475,908.35. This represents a 11.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO John E. Kao sold 180,000 shares of the stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $20.49, for a total transaction of $3,688,200.00. Following the transaction, the chief executive officer directly owned 2,652,641 shares in the company, valued at $54,352,614.09. The trade was a 6.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 2,120,938 shares of company stock worth $41,655,670 in the last 90 days. 7.00% of the stock is owned by corporate insiders.

Alignment Healthcare Profile

Alignment Healthcare, Inc (NASDAQ: ALHC) is a health care company specializing in value-based care for Medicare Advantage beneficiaries. The company leverages an integrated care model that combines in-home clinical services, telehealth capabilities and digital health tools to manage chronic conditions, improve outcomes and enhance patient experience.

At the core of Alignment Healthcare’s approach is a proprietary technology platform that aggregates real-time clinical and claims data to support preventive care, risk stratification and personalized care plans.