Walleye Capital LLC Purchases 104,565 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Walleye Capital LLC raised its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 142.2% in the 3rd quarter, Holdings Channel.com reports. The firm owned 178,110 shares of the company’s stock after buying an additional 104,565 shares during the period. Walleye Capital LLC’s holdings in Alignment Healthcare were worth $2,105,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Vanguard Group Inc. grew its holdings in Alignment Healthcare by 1.0% during the 1st quarter. Vanguard Group Inc. now owns 9,239,472 shares of the company’s stock worth $45,828,000 after acquiring an additional 93,262 shares during the last quarter. Deerfield Management Company L.P. Series C grew its stake in shares of Alignment Healthcare by 31.8% in the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock worth $85,250,000 after purchasing an additional 2,630,788 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Alignment Healthcare by 27.5% in the second quarter. Bank of New York Mellon Corp now owns 382,462 shares of the company’s stock valued at $2,991,000 after purchasing an additional 82,559 shares during the period. Principal Financial Group Inc. increased its holdings in Alignment Healthcare by 1,335.1% in the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after purchasing an additional 180,522 shares during the period. Finally, Hood River Capital Management LLC raised its position in Alignment Healthcare by 6.4% during the 2nd quarter. Hood River Capital Management LLC now owns 3,106,690 shares of the company’s stock worth $24,294,000 after purchasing an additional 185,854 shares during the last quarter. 86.19% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

ALHC has been the subject of several recent research reports. KeyCorp assumed coverage on Alignment Healthcare in a research note on Friday, October 11th. They issued a “sector weight” rating for the company. Barclays increased their target price on shares of Alignment Healthcare from $7.00 to $8.00 and gave the company an “underweight” rating in a research report on Wednesday, October 30th. UBS Group boosted their price target on shares of Alignment Healthcare from $9.00 to $12.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 30th. Stephens upgraded shares of Alignment Healthcare from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $13.00 to $17.00 in a research report on Tuesday. Finally, Robert W. Baird boosted their target price on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a report on Wednesday, August 14th. One analyst has rated the stock with a sell rating, two have given a hold rating, seven have assigned a buy rating and two have issued 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 price target of $11.44.

Alignment Healthcare Stock Performance

ALHC stock opened at $12.55 on Wednesday. The stock’s 50 day moving average is $11.85 and its 200-day moving average is $9.83. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $14.25. 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 (NASDAQ:ALHC) last issued its quarterly earnings data 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 return on equity of 108.69% and a negative net margin of 5.84%. The business had revenue of $692.43 million for the quarter, compared to analysts’ expectations of $662.11 million. During the same period last year, the business earned ($0.19) EPS. The business’s revenue was up 51.6% on a year-over-year basis. On average, research analysts predict that Alignment Healthcare, Inc. will post -0.69 EPS for the current year.

Insider Buying and Selling

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 transaction of $1,019,700.00. Following the completion of the sale, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at $28,813,323. This trade represents a 3.42 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Hakan Kardes sold 35,000 shares of the business’s stock in a transaction dated Wednesday, November 27th. The stock was sold at an average price of $12.80, for a total transaction of $448,000.00. Following the completion of the transaction, the insider now directly owns 320,444 shares in the company, valued at $4,101,683.20. This trade represents a 9.85 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 540,483 shares of company stock worth $6,513,528. 6.60% of the stock is owned by insiders.

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.