Barclays PLC Grows Holdings in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Barclays PLC increased its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 144.1% in the third quarter, Holdings Channel reports. The institutional investor owned 193,446 shares of the company’s stock after acquiring an additional 114,191 shares during the quarter. Barclays PLC’s holdings in Alignment Healthcare were worth $2,287,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in ALHC. Bank of New York Mellon Corp grew its holdings in Alignment Healthcare by 27.5% during the 2nd quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock worth $2,991,000 after acquiring an additional 82,559 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of Alignment Healthcare by 18.1% during the second quarter. Principal Financial Group Inc. now owns 13,521 shares of the company’s stock worth $106,000 after purchasing an additional 2,077 shares during the last quarter. Rhumbline Advisers grew its stake in Alignment Healthcare by 13.3% in the second quarter. Rhumbline Advisers now owns 137,296 shares of the company’s stock worth $1,074,000 after purchasing an additional 16,083 shares in the last quarter. William Blair Investment Management LLC increased its holdings in Alignment Healthcare by 94.4% in the second quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock valued at $24,279,000 after buying an additional 1,507,759 shares during the last quarter. Finally, Renaissance Technologies LLC raised its stake in Alignment Healthcare by 16.8% during the second quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after buying an additional 225,000 shares in the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 9th. The shares were sold at an average price of $11.33, for a total transaction of $1,019,700.00. Following the transaction, the chief executive officer now owns 2,543,100 shares in the company, valued at $28,813,323. This trade represents a 3.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Robert Thomas Freeman sold 4,483 shares of the company’s stock in a transaction that occurred on Tuesday, October 29th. The stock was sold at an average price of $12.01, for a total value of $53,840.83. Following the completion of the sale, the chief financial officer now owns 159,626 shares of the company’s stock, valued at $1,917,108.26. This trade represents a 2.73 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 653,546 shares of company stock worth $7,875,008 over the last ninety days. 6.60% of the stock is currently owned by corporate insiders.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC opened at $10.72 on Thursday. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm’s 50 day moving average is $11.88 and its two-hundred day moving average is $10.26. The firm has a market capitalization of $2.05 billion, a P/E ratio of -13.92 and a beta of 1.42. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $14.25.

Alignment Healthcare (NASDAQ:ALHC) last posted its earnings results on Tuesday, October 29th. The company reported ($0.14) EPS for the quarter, meeting the consensus estimate of ($0.14). Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The firm had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same period last year, the firm earned ($0.19) EPS. The firm’s revenue was up 51.6% compared to the same quarter last year. Analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on ALHC shares. Stephens upgraded Alignment Healthcare from an “equal weight” rating to an “overweight” rating and lifted their target price for the stock from $13.00 to $17.00 in a research report on Tuesday, December 3rd. KeyCorp began coverage on shares of Alignment Healthcare in a research note on Friday, October 11th. They set a “sector weight” rating for the company. Barclays raised their price target on shares of Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. Finally, UBS Group increased their price objective on shares of 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 issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $11.44.

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.