Robert L. Scavo Sells 2,864 Shares of Alignment Healthcare, Inc. (NASDAQ:ALHC) Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Robert L. Scavo sold 2,864 shares of the firm’s stock in a transaction dated Thursday, March 27th. The shares were sold at an average price of $17.89, for a total value of $51,236.96. Following the sale, the insider now owns 702,953 shares in the company, valued at approximately $12,575,829.17. The trade was a 0.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink.

Alignment Healthcare Stock Performance

Shares of ALHC stock opened at $18.30 on Friday. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -23.77 and a beta of 1.49. Alignment Healthcare, Inc. has a 1-year low of $4.46 and a 1-year high of $18.44. The company has a current ratio of 1.60, a quick ratio of 1.60 and a debt-to-equity ratio of 1.82. The stock’s fifty day simple moving average is $15.28 and its 200-day simple moving average is $12.97.

Hedge Funds Weigh In On Alignment Healthcare

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ALHC. Vanguard Group Inc. increased its stake in shares of Alignment Healthcare by 1.7% during the 4th quarter. Vanguard Group Inc. now owns 9,818,071 shares of the company’s stock worth $110,453,000 after purchasing an additional 166,837 shares during the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of 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 worth $97,302,000 after buying an additional 3,059,596 shares during the last quarter. Wellington Management Group LLP boosted its stake in shares of Alignment Healthcare by 77.9% during the 4th quarter. Wellington Management Group LLP now owns 7,438,500 shares of the company’s stock worth $83,683,000 after acquiring an additional 3,257,630 shares in the last quarter. Hood River Capital Management LLC increased its holdings in shares of Alignment Healthcare by 39.6% during the 4th quarter. Hood River Capital Management LLC now owns 4,952,995 shares of the company’s stock valued at $55,721,000 after acquiring an additional 1,405,212 shares during the last quarter. Finally, 8 Knots Management LLC raised its stake in shares of Alignment Healthcare by 49.5% in the 4th quarter. 8 Knots Management LLC now owns 3,658,695 shares of the company’s stock valued at $41,160,000 after acquiring an additional 1,211,727 shares in the last quarter. Institutional investors own 86.19% of the company’s stock.

Analyst Upgrades and Downgrades

ALHC has been the topic of a number of analyst reports. Piper Sandler increased their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a report on Tuesday, March 4th. Barclays raised their price target on shares of Alignment Healthcare from $8.00 to $9.00 and gave the company an “underweight” rating in a research note on Friday, February 28th. Bank of America boosted their price objective on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a research report on Tuesday, March 4th. JPMorgan Chase & Co. raised 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. Finally, Stifel Nicolaus lifted their target price on Alignment Healthcare from $16.00 to $18.00 and gave the company a “buy” rating in a research note on Friday, February 28th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target 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.