Quantbot Technologies LP Invests $1.67 Million in Alignment Healthcare, Inc. (NASDAQ:ALHC)

Quantbot Technologies LP acquired a new stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 148,438 shares of the company’s stock, valued at approximately $1,670,000. Quantbot Technologies LP owned 0.08% of Alignment Healthcare at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Connor Clark & Lunn Investment Management Ltd. bought a new stake in Alignment Healthcare in the 3rd quarter valued at $131,000. Intech Investment Management LLC bought a new stake in Alignment Healthcare in the third quarter valued at about $315,000. Charles Schwab Investment Management Inc. increased its stake in Alignment Healthcare by 1.7% in the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after acquiring an additional 13,865 shares during the period. Algert Global LLC raised its position in Alignment Healthcare by 44.8% in the third quarter. Algert Global LLC now owns 80,903 shares of the company’s stock worth $956,000 after purchasing an additional 25,050 shares in the last quarter. Finally, The Manufacturers Life Insurance Company lifted its stake in Alignment Healthcare by 132.2% during the third quarter. The Manufacturers Life Insurance Company now owns 128,933 shares of the company’s stock worth $1,524,000 after purchasing an additional 73,402 shares during the period. 86.19% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Alignment Healthcare

In related news, COO Sebastian Burzacchi sold 6,694 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total value of $109,781.60. Following the transaction, the chief operating officer now owns 250,378 shares in the company, valued at $4,106,199.20. This trade represents a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $13.06, for a total value of $1,175,400.00. Following the completion of the sale, the chief executive officer now owns 2,273,100 shares of the company’s stock, valued at approximately $29,686,686. The trade was a 3.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 1,901,665 shares of company stock worth $29,141,513. Corporate insiders own 6.60% of the company’s stock.

Alignment Healthcare Stock Down 0.9 %

Shares of NASDAQ:ALHC opened at $17.46 on Tuesday. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market cap of $3.35 billion, a P/E ratio of -22.68 and a beta of 1.49. Alignment Healthcare, Inc. has a 12 month low of $4.46 and a 12 month high of $17.76. The company’s 50-day moving average price is $14.98 and its two-hundred day moving average price is $12.78.

Wall Street Analyst Weigh In

ALHC has been the topic of several analyst reports. Stephens reiterated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Bank of America lifted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Stifel Nicolaus upped their target price on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Barclays increased their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

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.