Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $81,979.59 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 5,313 shares of the business’s stock in a transaction dated Wednesday, March 12th. The stock was sold at an average price of $15.43, for a total transaction of $81,979.59. Following the transaction, the insider now owns 668,106 shares in the company, valued at $10,308,875.58. The trade was a 0.79 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $15.79 on Friday. Alignment Healthcare, Inc. has a 52 week low of $4.46 and a 52 week high of $16.25. The company has a fifty day simple moving average of $14.38 and a two-hundred day simple moving average of $12.43. The company has a quick ratio of 1.60, a current ratio of 1.60 and a debt-to-equity ratio of 1.82. The company has a market cap of $3.03 billion, a price-to-earnings ratio of -20.51 and a beta of 1.49.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. R Squared Ltd acquired a new stake in shares of Alignment Healthcare in the 4th quarter valued at $55,000. RiverPark Advisors LLC purchased a new position in Alignment Healthcare in the fourth quarter valued at $106,000. Tower Research Capital LLC TRC raised its stake in Alignment Healthcare by 146.7% in the fourth quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock valued at $119,000 after buying an additional 6,286 shares in the last quarter. Ballentine Partners LLC purchased a new stake in Alignment Healthcare during the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP acquired a new position in shares of Alignment Healthcare during the 4th quarter worth about $129,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on ALHC. Piper Sandler upped their price target on Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research report on Tuesday, March 4th. Stifel Nicolaus upped their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a report on Friday, February 28th. JPMorgan Chase & Co. lifted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the stock a “neutral” rating in a report on Thursday, March 6th. Bank of America upped their price objective on shares of Alignment Healthcare from $15.50 to $18.50 and gave the company a “buy” rating in a report on Tuesday, March 4th. Finally, William Blair reaffirmed an “outperform” rating on shares of Alignment Healthcare in a research note on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have given a hold rating, seven have assigned a buy rating and one has issued 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 $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.