Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells $1,280,700.00 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of the business’s stock in a transaction dated Tuesday, February 11th. The stock was sold at an average price of $14.23, for a total value of $1,280,700.00. Following the transaction, the chief executive officer now owns 2,183,100 shares of the company’s stock, valued at $31,065,513. The trade was a 3.96 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded up $0.14 during trading on Wednesday, reaching $14.52. 994,579 shares of the company traded hands, compared to its average volume of 1,842,446. The company’s 50 day moving average is $12.84 and its two-hundred day moving average is $11.52. The firm has a market capitalization of $2.78 billion, a PE ratio of -18.86 and a beta of 1.50. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $15.82.

Institutional Trading of Alignment Healthcare

Institutional investors have recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Alignment Healthcare by 20.9% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 55,531 shares of the company’s stock worth $434,000 after buying an additional 9,595 shares during the last quarter. SG Americas Securities LLC acquired a new stake in shares of Alignment Healthcare during the third quarter valued at about $521,000. Creative Planning boosted its stake in shares of Alignment Healthcare by 20.0% during the third quarter. Creative Planning now owns 12,442 shares of the company’s stock valued at $147,000 after purchasing an additional 2,072 shares in the last quarter. nVerses Capital LLC acquired a new stake in shares of Alignment Healthcare during the third quarter valued at about $95,000. Finally, Principal Financial Group Inc. raised 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 worth $2,294,000 after acquiring an additional 180,522 shares during the last quarter. 86.19% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

Alignment Healthcare Company Profile

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.