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

William Blair Investment Management LLC boosted its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 50.7% during the fourth quarter, according to its most recent 13F filing with the SEC. 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 owned 1.55% of Alignment Healthcare worth $33,442,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Allspring Global Investments Holdings LLC increased its position in shares of Alignment Healthcare by 1,672.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock valued at $7,591,000 after buying an additional 619,592 shares during the period. Royce & Associates LP increased its position in shares of Alignment Healthcare by 144.3% during the fourth quarter. Royce & Associates LP now owns 781,680 shares of the company’s stock valued at $8,794,000 after buying an additional 461,680 shares during the period. JPMorgan Chase & Co. increased its position in shares of Alignment Healthcare by 249.3% during the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after buying an additional 205,705 shares during the period. Principal Financial Group Inc. increased its position in shares of Alignment Healthcare by 1,335.1% during the third quarter. Principal Financial Group Inc. now owns 194,043 shares of the company’s stock valued at $2,294,000 after buying an additional 180,522 shares during the period. Finally, Raymond James Financial Inc. bought a new stake in shares of Alignment Healthcare during the fourth quarter valued at about $1,769,000. 86.19% of the stock is currently owned by institutional investors.

Alignment Healthcare Stock Up 4.0 %

Shares of ALHC opened at $16.74 on Wednesday. The firm has a market cap of $3.21 billion, a P/E ratio of -21.74 and a beta of 1.49. The stock has a 50 day simple moving average of $14.58 and a two-hundred day simple moving average of $12.56. The company has a debt-to-equity ratio of 1.82, a current ratio of 1.60 and a quick ratio of 1.60. Alignment Healthcare, Inc. has a 1 year low of $4.46 and a 1 year high of $17.24.

Insiders Place Their Bets

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the company’s stock in a transaction that occurred on 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 $29,686,686. This represents a 3.81 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, President Dawn Christine Maroney sold 30,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the president now owns 1,606,097 shares of the company’s stock, valued at $21,858,980.17. The trade was a 1.83 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 1,829,454 shares of company stock valued at $27,936,991 over the last quarter. 6.60% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. upped their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Piper Sandler boosted 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. Barclays boosted their price objective on Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a report on Friday, February 28th. Stifel Nicolaus boosted their price objective on Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a report on Friday, February 28th. Finally, Bank of America boosted 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, Alignment Healthcare currently has an average rating of “Moderate Buy” and an average price target 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.