PDT Partners LLC Acquires 15,726 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

PDT Partners LLC grew its holdings in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 14.3% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 125,532 shares of the company’s stock after buying an additional 15,726 shares during the period. PDT Partners LLC’s holdings in Alignment Healthcare were worth $1,484,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Virtu Financial LLC acquired a new position in shares of Alignment Healthcare during the 1st quarter valued at $57,000. nVerses Capital LLC acquired a new position in shares of Alignment Healthcare during the third quarter valued at about $95,000. Principal Financial Group Inc. boosted its position in shares of Alignment Healthcare by 18.1% during the 2nd 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 in the last quarter. Connor Clark & Lunn Investment Management Ltd. acquired a new stake in shares of Alignment Healthcare in the 3rd quarter valued at about $131,000. Finally, Creative Planning increased its position in Alignment Healthcare by 20.0% in the 3rd quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after buying an additional 2,072 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Trading Down 1.7 %

Shares of ALHC stock opened at $12.61 on Monday. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60. The company has a market capitalization of $2.42 billion, a price-to-earnings ratio of -16.38 and a beta of 1.45. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $14.25. The company has a 50-day simple moving average of $11.81 and a two-hundred day simple moving average of $9.77.

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

Wall Street Analyst Weigh In

ALHC has been the topic of several recent research reports. Barclays increased their price target on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a report on Wednesday, October 30th. Robert W. Baird lifted their price target on shares of Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research report on Wednesday, August 14th. Piper Sandler restated an “overweight” rating and set a $10.00 price objective (up previously from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. KeyCorp started coverage on shares of Alignment Healthcare in a report on Friday, October 11th. They set a “sector weight” rating for the company. Finally, TD Cowen upped their target price on shares of Alignment Healthcare from $8.00 to $10.00 and gave the stock a “buy” rating in a report on Tuesday, August 6th. One analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, Alignment Healthcare has a consensus rating of “Moderate Buy” and an average price target of $10.33.

Insider Activity

In other news, insider Hakan Kardes sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $11.48, for a total transaction of $287,000.00. Following the completion of the sale, the insider now owns 380,444 shares in the company, valued at $4,367,497.12. This trade represents a 6.17 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Dawn Christine Maroney sold 30,000 shares of Alignment Healthcare stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $10.77, for a total transaction of $323,100.00. Following the completion of the sale, the insider now directly owns 1,726,097 shares in the company, valued at $18,590,064.69. This trade represents a 1.71 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 543,433 shares of company stock valued at $6,543,028 in the last ninety days. 6.60% of the stock is currently owned by insiders.

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.