Alignment Healthcare, Inc. (NASDAQ:ALHC) Shares Sold by Silver Oak Securities Incorporated

Silver Oak Securities Incorporated lessened its stake in shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) by 3.8% during the fourth quarter, HoldingsChannel reports. The firm owned 21,574 shares of the company’s stock after selling 859 shares during the period. Silver Oak Securities Incorporated’s holdings in Alignment Healthcare were worth $241,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Geode Capital Management LLC raised its holdings in shares of Alignment Healthcare by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 2,442,447 shares of the company’s stock valued at $28,875,000 after buying an additional 32,839 shares during the period. State Street Corp grew its position in Alignment Healthcare by 0.9% in the third quarter. State Street Corp now owns 2,252,287 shares of the company’s stock valued at $26,622,000 after acquiring an additional 20,731 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Alignment Healthcare by 1.7% during the third quarter. Charles Schwab Investment Management Inc. now owns 839,695 shares of the company’s stock valued at $9,925,000 after purchasing an additional 13,865 shares during the period. Royce & Associates LP acquired a new position in shares of Alignment Healthcare during the third quarter worth $3,782,000. Finally, JPMorgan Chase & Co. boosted its stake in shares of Alignment Healthcare by 249.3% in the third quarter. JPMorgan Chase & Co. now owns 288,219 shares of the company’s stock valued at $3,407,000 after purchasing an additional 205,705 shares during the period. Institutional investors and hedge funds own 86.19% of the company’s stock.

Alignment Healthcare Price Performance

Shares of ALHC opened at $14.74 on Monday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $15.82. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The firm has a market cap of $2.83 billion, a price-to-earnings ratio of -19.14 and a beta of 1.50. The stock has a 50 day moving average of $12.77 and a 200-day moving average of $11.44.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the stock. Stephens reaffirmed an “overweight” rating and set a $17.00 price target on shares of Alignment Healthcare in a research note on Thursday, January 2nd. Barclays lifted their target price on Alignment Healthcare from $7.00 to $8.00 and gave the stock an “underweight” rating in a research report on Wednesday, October 30th. UBS Group increased their price target on Alignment Healthcare from $9.00 to $12.00 and gave the company a “neutral” rating in a report on Wednesday, October 30th. Finally, Stifel Nicolaus upped their target price on Alignment Healthcare from $14.00 to $16.00 and gave the company a “buy” rating in a research report on Tuesday, January 14th. One equities research analyst has rated the stock with a sell rating, two have given a hold rating, seven have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $11.88.

Insider Buying and Selling

In other Alignment Healthcare news, CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction dated Wednesday, December 11th. The shares were sold at an average price of $11.65, for a total value of $1,048,500.00. Following the transaction, the chief executive officer now owns 2,363,100 shares of the company’s stock, valued at $27,530,115. This trade represents a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Dawn Christine Maroney sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, November 15th. The shares were sold at an average price of $11.35, for a total value of $340,500.00. Following the transaction, the insider now directly owns 1,696,097 shares of the company’s stock, valued at $19,250,700.95. This trade represents a 1.74 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 371,124 shares of company stock worth $4,654,981 over the last ninety days. 6.60% of the stock is 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.