Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by XTX Topco Ltd

XTX Topco Ltd reduced its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 50.1% in the 3rd quarter, Holdings Channel reports. The fund owned 21,317 shares of the company’s stock after selling 21,432 shares during the period. XTX Topco Ltd’s holdings in Alignment Healthcare were worth $252,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. nVerses Capital LLC purchased a new stake in shares of Alignment Healthcare in the third quarter valued at $95,000. Principal Financial Group Inc. boosted its stake in Alignment Healthcare by 18.1% in the 2nd quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after buying an additional 2,077 shares during the last quarter. Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Alignment Healthcare in the 3rd quarter valued at about $131,000. Creative Planning increased its stake in shares of Alignment Healthcare by 20.0% during the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after acquiring an additional 2,072 shares during the last quarter. Finally, Mackenzie Financial Corp lifted its holdings in shares of Alignment Healthcare by 110.0% during the 2nd quarter. Mackenzie Financial Corp now owns 36,526 shares of the company’s stock worth $286,000 after acquiring an additional 19,129 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Alignment Healthcare Stock Performance

Alignment Healthcare stock opened at $10.76 on Thursday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. Alignment Healthcare, Inc. has a one year low of $4.46 and a one year high of $14.25. The stock’s 50 day moving average price is $11.95 and its 200 day moving average price is $10.17. The firm has a market capitalization of $2.06 billion, a PE ratio of -13.97 and a beta of 1.42.

Alignment Healthcare (NASDAQ:ALHC) last announced 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). Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The business had revenue of $692.43 million during the quarter, compared to the consensus estimate of $662.11 million. During the same period in the prior year, the firm earned ($0.19) earnings per share. The business’s quarterly revenue was up 51.6% compared to the same quarter last year. As a group, sell-side analysts expect that Alignment Healthcare, Inc. will post -0.69 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

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

Insider Activity

In other news, CFO Robert Thomas Freeman sold 21,375 shares of the firm’s stock in a transaction that occurred on Tuesday, October 1st. The shares were sold at an average price of $10.66, for a total transaction of $227,857.50. Following the completion of the sale, the chief financial officer now owns 243,054 shares of the company’s stock, valued at approximately $2,590,955.64. This trade represents a 8.08 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Hakan Kardes sold 4,500 shares of the company’s stock in a transaction on Friday, November 1st. The shares were sold at an average price of $12.98, for a total transaction of $58,410.00. Following the completion of the sale, the insider now directly owns 375,944 shares in the company, valued at $4,879,753.12. This represents a 1.18 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 653,546 shares of company stock worth $7,875,008 over the last ninety days. Corporate 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.