Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,019,700.00 in Stock

by · The Markets Daily

Alignment Healthcare, Inc. (NASDAQ:ALHC – Get Free Report) CEO John E. Kao sold 90,000 shares of the firm’s stock in a transaction on Wednesday, October 9th. The stock was sold at an average price of $11.33, for a total value of $1,019,700.00. Following the completion of the transaction, the chief executive officer now directly owns 2,543,100 shares of the company’s stock, valued at approximately $28,813,323. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link.

Alignment Healthcare Stock Performance

Shares of NASDAQ:ALHC opened at $11.45 on Friday. The business has a fifty day moving average of $10.03 and a 200-day moving average of $8.13. The company has a debt-to-equity ratio of 1.70, a quick ratio of 1.61 and a current ratio of 1.61. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $12.36. The firm has a market cap of $2.19 billion, a PE ratio of -13.96 and a beta of 1.47.

Alignment Healthcare (NASDAQ:ALHC – Get Free Report) last announced its earnings results on Thursday, August 1st. The company reported ($0.13) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.14) by $0.01. Alignment Healthcare had a negative net margin of 6.85% and a negative return on equity of 101.10%. The company had revenue of $681.29 million during the quarter, compared to the consensus estimate of $637.66 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The company’s revenue was up 47.3% on a year-over-year basis. On average, equities research analysts predict that Alignment Healthcare, Inc. will post -0.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. TD Cowen raised their price objective 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. Piper Sandler reaffirmed an “overweight” rating and set a $10.00 price objective (up from $8.00) on shares of Alignment Healthcare in a report on Tuesday, August 6th. Barclays increased their target price on Alignment Healthcare from $4.50 to $7.00 and gave the stock an “underweight” rating in a report on Monday, August 5th. Robert W. Baird boosted their price target on Alignment Healthcare from $10.00 to $11.00 and gave the company an “outperform” rating in a research note on Wednesday, August 14th. Finally, Stifel Nicolaus increased their price objective on Alignment Healthcare from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Friday, July 26th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, six have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Alignment Healthcare presently has a consensus rating of “Moderate Buy” and a consensus target price of $9.83.

Read Our Latest Research Report on ALHC

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the company. Deerfield Management Company L.P. Series C lifted its stake in shares of Alignment Healthcare by 31.8% during the second quarter. Deerfield Management Company L.P. Series C now owns 10,901,485 shares of the company’s stock valued at $85,250,000 after acquiring an additional 2,630,788 shares during the period. William Blair Investment Management LLC raised its holdings in Alignment Healthcare by 94.4% during the 2nd quarter. William Blair Investment Management LLC now owns 3,104,681 shares of the company’s stock worth $24,279,000 after purchasing an additional 1,507,759 shares during the last quarter. Hood River Capital Management LLC lifted its position in Alignment Healthcare by 49.6% during the 1st quarter. Hood River Capital Management LLC now owns 2,920,836 shares of the company’s stock valued at $14,487,000 after purchasing an additional 968,637 shares during the period. Renaissance Technologies LLC boosted its stake in shares of Alignment Healthcare by 16.8% in the 2nd quarter. Renaissance Technologies LLC now owns 1,565,800 shares of the company’s stock valued at $12,245,000 after purchasing an additional 225,000 shares during the last quarter. Finally, AQR Capital Management LLC acquired a new stake in shares of Alignment Healthcare during the 2nd quarter worth approximately $1,512,000. 86.19% of the stock is currently owned by institutional investors.

About Alignment Healthcare

(Get Free Report)

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.

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