Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO Sells 27,535 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 27,535 shares of the business’s stock in a transaction that occurred on Tuesday, March 18th. The stock was sold at an average price of $16.89, for a total value of $465,066.15. Following the completion of the transaction, the chief executive officer now directly owns 4,991,717 shares in the company, valued at approximately $84,310,100.13. This represents a 0.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

Alignment Healthcare Price Performance

Shares of NASDAQ:ALHC traded up $0.45 on Wednesday, reaching $17.19. The company’s stock had a trading volume of 2,791,742 shares, compared to its average volume of 1,412,390. Alignment Healthcare, Inc. has a 52-week low of $4.46 and a 52-week high of $17.41. The company has a market cap of $3.30 billion, a P/E ratio of -22.32 and a beta of 1.49. The company has a 50-day simple moving average of $14.68 and a 200 day simple moving average of $12.59. The company has a debt-to-equity ratio of 1.82, a quick ratio of 1.60 and a current ratio of 1.60.

Wall Street Analyst Weigh In

A number of research analysts recently commented on ALHC shares. Bank of America boosted their price target on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. William Blair reissued an “outperform” rating on shares of Alignment Healthcare in a report on Friday, February 28th. Piper Sandler boosted their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Stephens reissued an “overweight” rating and issued a $17.00 price target on shares of Alignment Healthcare in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. increased their target price on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, Alignment Healthcare currently has a consensus rating of “Moderate Buy” and a consensus target price of $14.83.

Hedge Funds Weigh In On Alignment Healthcare

Institutional investors and hedge funds have recently made changes to their positions in the business. R Squared Ltd bought a new stake in shares of Alignment Healthcare in the 4th quarter worth about $55,000. RiverPark Advisors LLC bought a new stake in shares of Alignment Healthcare in the 4th quarter worth about $106,000. Tower Research Capital LLC TRC lifted its holdings in shares of Alignment Healthcare by 146.7% in the 4th quarter. Tower Research Capital LLC TRC now owns 10,571 shares of the company’s stock worth $119,000 after acquiring an additional 6,286 shares during the last quarter. Ballentine Partners LLC bought a new stake in shares of Alignment Healthcare in the 4th quarter worth about $121,000. Finally, Aigen Investment Management LP bought a new stake in shares of Alignment Healthcare in the 4th quarter worth about $129,000. 86.19% of the stock is owned by hedge funds and other institutional investors.

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.