Integral Health Asset Management LLC Purchases Shares of 500,000 Alignment Healthcare, Inc. (NASDAQ:ALHC)

Integral Health Asset Management LLC purchased a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) in the fourth quarter, HoldingsChannel reports. The institutional investor purchased 500,000 shares of the company’s stock, valued at approximately $5,625,000.

Other large investors have also made changes to their positions in the company. R Squared Ltd bought a new position in shares of Alignment Healthcare during the 4th quarter valued at approximately $55,000. RiverPark Advisors LLC bought a new position in Alignment Healthcare in the 4th quarter worth approximately $106,000. Tower Research Capital LLC TRC boosted its stake in Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after purchasing an additional 6,286 shares during the period. Ballentine Partners LLC bought a new position in Alignment Healthcare in the 4th quarter worth approximately $121,000. Finally, Aigen Investment Management LP bought a new position in Alignment Healthcare in the 4th quarter worth approximately $129,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Down 1.9%

Alignment Healthcare stock opened at $15.12 on Monday. The firm has a market cap of $2.99 billion, a price-to-earnings ratio of -19.64 and a beta of 1.32. Alignment Healthcare, Inc. has a 52 week low of $6.66 and a 52 week high of $21.06. The business’s 50-day moving average price is $17.34 and its 200 day moving average price is $14.48. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) EPS for the quarter, beating the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative return on equity of 108.69% and a negative net margin of 5.84%. The company had revenue of $926.93 million for the quarter, compared to analyst estimates of $889.83 million. During the same period last year, the company earned ($0.25) earnings per share. Alignment Healthcare’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Bank of America upped their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research note on Tuesday, March 4th. William Blair restated an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a report on Monday, February 24th. JPMorgan Chase & Co. upped 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. Finally, Robert W. Baird upped their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the stock an “outperform” rating in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $17.17.

Insider Transactions at Alignment Healthcare

In related news, COO Sebastian Burzacchi sold 6,694 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total transaction of $109,781.60. Following the transaction, the chief operating officer now owns 250,378 shares in the company, valued at approximately $4,106,199.20. This trade represents a 2.60% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Andreas P. Wagner sold 14,878 shares of Alignment Healthcare stock in a transaction on Wednesday, February 12th. The shares were sold at an average price of $14.38, for a total value of $213,945.64. Following the completion of the sale, the insider now owns 200,885 shares in the company, valued at $2,888,726.30. This represents a 6.90% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,181,855 shares of company stock valued at $35,166,057 over the last ninety days. Insiders own 7.00% of the company’s stock.

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.