Trexquant Investment LP Sells 9,580 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC)

Trexquant Investment LP lowered its position in Alignment Healthcare, Inc. (NASDAQ:ALHC) by 4.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 215,486 shares of the company’s stock after selling 9,580 shares during the period. Trexquant Investment LP owned 0.11% of Alignment Healthcare worth $2,424,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in ALHC. Rhumbline Advisers lifted its holdings in shares of Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after purchasing an additional 2,937 shares in the last quarter. Alliancebernstein L.P. raised its holdings in Alignment Healthcare by 2.8% during the fourth quarter. Alliancebernstein L.P. now owns 119,440 shares of the company’s stock worth $1,344,000 after buying an additional 3,300 shares during the last quarter. R Squared Ltd bought a new position in shares of Alignment Healthcare in the fourth quarter valued at $55,000. SG Americas Securities LLC grew its holdings in shares of Alignment Healthcare by 11.7% during the fourth quarter. SG Americas Securities LLC now owns 49,272 shares of the company’s stock valued at $554,000 after buying an additional 5,163 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of Alignment Healthcare by 1.0% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 847,974 shares of the company’s stock worth $9,540,000 after acquiring an additional 8,279 shares in the last quarter. Institutional investors and hedge funds own 86.19% of the company’s stock.

Insiders Place Their Bets

In related news, insider Christopher J. Joyce sold 25,000 shares of Alignment Healthcare stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $18.47, for a total transaction of $461,750.00. Following the completion of the sale, the insider now owns 415,022 shares of the company’s stock, valued at approximately $7,665,456.34. This trade represents a 5.68 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO John E. Kao sold 90,000 shares of the business’s 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 transaction, 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. Insiders have sold 1,981,855 shares of company stock worth $30,590,612 in the last three months. 6.60% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently commented on ALHC shares. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. Piper Sandler increased their target price on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a report on Tuesday, March 4th. Stifel Nicolaus boosted their price target 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. Stephens restated an “overweight” rating and issued a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Finally, Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research note on Friday, February 28th. One research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $14.83.

Alignment Healthcare Price Performance

ALHC stock opened at $17.82 on Tuesday. The firm has a 50 day moving average of $15.69 and a 200-day moving average of $13.29. 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 capitalization of $3.42 billion, a P/E ratio of -23.14 and a beta of 1.32. Alignment Healthcare, Inc. has a 12 month low of $4.62 and a 12 month high of $19.85.

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.