AQR Capital Management LLC Makes New $1.51 Million Investment in Alignment Healthcare, Inc. (NASDAQ:ALHC)

AQR Capital Management LLC acquired a new position in Alignment Healthcare, Inc. (NASDAQ:ALHC) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 193,363 shares of the company’s stock, valued at approximately $1,512,000.

Several other institutional investors and hedge funds have also bought and sold shares of ALHC. Allspring Global Investments Holdings LLC lifted its holdings in Alignment Healthcare by 9.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 39,570 shares of the company’s stock worth $196,000 after buying an additional 3,334 shares during the period. Principal Financial Group Inc. purchased a new position in shares of Alignment Healthcare in the 1st quarter valued at approximately $57,000. Blue Trust Inc. lifted its stake in shares of Alignment Healthcare by 47.4% in the 1st quarter. Blue Trust Inc. now owns 256,452 shares of the company’s stock valued at $1,272,000 after purchasing an additional 82,476 shares during the period. Vanguard Group Inc. lifted its stake in shares of Alignment Healthcare by 1.0% in the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock valued at $45,828,000 after purchasing an additional 93,262 shares during the period. Finally, Hood River Capital Management LLC lifted its stake in shares of Alignment Healthcare by 49.6% in the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares during the period. Hedge funds and other institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on the company. TD Cowen raised their target price on Alignment Healthcare from $8.00 to $10.00 and gave the company a “buy” rating in a research note on Tuesday, August 6th. Barclays raised their target price on Alignment Healthcare from $4.50 to $7.00 and gave the company an “underweight” rating in a research note on Monday, August 5th. Robert W. Baird raised their target price on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Stifel Nicolaus raised their target price on Alignment Healthcare from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Friday, July 26th. Finally, Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a research report on Tuesday, August 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and an average target price of $9.83.

Alignment Healthcare Stock Down 0.2 %

Alignment Healthcare stock opened at $11.31 on Friday. The firm has a market cap of $2.16 billion, a price-to-earnings ratio of -13.46 and a beta of 1.47. The stock has a fifty day simple moving average of $9.98 and a two-hundred day simple moving average of $8.06. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $12.36. The company has a current ratio of 1.61, a quick ratio of 1.61 and a debt-to-equity ratio of 1.70.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Thursday, August 1st. The company reported ($0.13) EPS for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. The business had revenue of $681.29 million during the quarter, compared to analyst estimates of $637.66 million. Alignment Healthcare had a negative return on equity of 101.10% and a negative net margin of 6.85%. The company’s quarterly revenue was up 47.3% compared to the same quarter last year. During the same quarter last year, the company earned ($0.15) EPS. Equities analysts predict that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Insider Transactions at Alignment Healthcare

In other news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. In other news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on 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 transaction, the chief executive officer now directly owns 2,543,100 shares in the company, valued at $28,813,323. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CFO Robert Thomas Freeman sold 22,100 shares of the firm’s stock in a transaction on Wednesday, July 17th. The stock was sold at an average price of $10.00, for a total value of $221,000.00. Following the completion of the transaction, the chief financial officer now owns 497,329 shares in the company, valued at approximately $4,973,290. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,895 shares of company stock worth $4,621,859 in the last ninety days. 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.