William Blair Investment Management LLC Buys 999,940 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

William Blair Investment Management LLC raised its stake in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 50.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 2,972,647 shares of the company’s stock after acquiring an additional 999,940 shares during the period. William Blair Investment Management LLC’s holdings in Alignment Healthcare were worth $33,442,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in ALHC. R Squared Ltd bought a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $55,000. Ballentine Partners LLC bought a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $121,000. Aigen Investment Management LP bought a new position in shares of Alignment Healthcare during the fourth quarter valued at approximately $129,000. Connor Clark & Lunn Investment Management Ltd. bought a new position in shares of Alignment Healthcare during the third quarter valued at approximately $131,000. Finally, AlphaQuest LLC bought a new position in Alignment Healthcare in the fourth quarter worth $132,000. Institutional investors own 86.19% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on ALHC shares. Bank of America increased their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. William Blair reiterated an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. JPMorgan Chase & Co. increased their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Piper Sandler increased their price objective on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Finally, Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. One analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $14.83.

Alignment Healthcare Trading Up 4.0 %

NASDAQ ALHC opened at $16.74 on Wednesday. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $17.24. The stock has a market cap of $3.21 billion, a P/E ratio of -21.74 and a beta of 1.49. The stock’s fifty day moving average price is $14.58 and its 200-day moving average price is $12.56. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82.

Insider Activity at Alignment Healthcare

In related news, CEO John E. Kao sold 554,713 shares of the stock in a transaction on Thursday, March 6th. The stock was sold at an average price of $15.53, for a total transaction of $8,614,692.89. Following the sale, the chief executive officer now directly owns 4,733,664 shares of the company’s stock, valued at $73,513,801.92. This trade represents a 10.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $13.61, for a total value of $408,300.00. Following the sale, the president now directly owns 1,606,097 shares in the company, valued at $21,858,980.17. This trade represents a 1.83 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 1,829,454 shares of company stock valued at $27,936,991 over the last ninety days. 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.