Sebastian Burzacchi Sells 6,694 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) COO Sebastian Burzacchi sold 6,694 shares of Alignment Healthcare stock in a transaction that occurred on Wednesday, March 19th. The stock was sold at an average price of $16.40, for a total transaction of $109,781.60. Following the completion of the sale, the chief operating officer now directly owns 250,378 shares of the company’s stock, valued at $4,106,199.20. The trade was a 2.60 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website.

Alignment Healthcare Stock Performance

NASDAQ:ALHC opened at $17.19 on Thursday. The firm’s fifty day simple moving average is $14.68 and its 200 day simple moving average is $12.59. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. Alignment Healthcare, Inc. has a twelve month low of $4.46 and a twelve month high of $17.38. The firm has a market capitalization of $3.30 billion, a price-to-earnings ratio of -22.32 and a beta of 1.49.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ALHC shares. JPMorgan Chase & Co. lifted their price objective on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research report on Thursday, March 6th. Piper Sandler raised their price target on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. Stephens reaffirmed an “overweight” rating and set a $17.00 price objective on shares of Alignment Healthcare in a research note on Monday, February 24th. Barclays raised their target price on shares of Alignment Healthcare from $8.00 to $9.00 and gave the stock an “underweight” rating in a research report on Friday, February 28th. Finally, Stifel Nicolaus upped their price target on shares of Alignment Healthcare from $16.00 to $18.00 and gave the stock a “buy” rating in a research report on Friday, February 28th. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $14.83.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Wellington Management Group LLP grew its stake in shares of Alignment Healthcare by 77.9% in the fourth quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock valued at $83,683,000 after buying an additional 3,257,630 shares in the last quarter. T. Rowe Price Investment Management Inc. grew its position in Alignment Healthcare by 54.7% in the fourth quarter. T. Rowe Price Investment Management Inc. now owns 8,649,042 shares of the company’s stock valued at $97,302,000 after acquiring an additional 3,059,596 shares in the last quarter. Millennium Management LLC lifted its position in shares of Alignment Healthcare by 588.3% during the fourth quarter. Millennium Management LLC now owns 3,388,602 shares of the company’s stock worth $38,122,000 after purchasing an additional 2,896,311 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in shares of Alignment Healthcare during the fourth quarter worth $20,087,000. Finally, Broad Bay Capital Management LP purchased a new position in shares of Alignment Healthcare in the fourth quarter valued at $18,804,000. Institutional investors and hedge funds own 86.19% of the company’s stock.

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.