Insider Selling: Alignment Healthcare, Inc. (NASDAQ:ALHC) Insider Sells $296,028.74 in Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) insider Andreas P. Wagner sold 19,399 shares of the company’s stock in a transaction on Wednesday, June 11th. The stock was sold at an average price of $15.26, for a total value of $296,028.74. Following the sale, the insider now owns 204,075 shares of the company’s stock, valued at approximately $3,114,184.50. This represents a 8.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink.

Alignment Healthcare Price Performance

NASDAQ:ALHC opened at $14.94 on Monday. 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 12 month low of $7.05 and a 12 month high of $21.06. The firm has a market cap of $2.96 billion, a P/E ratio of -19.40 and a beta of 1.22. The stock has a 50 day moving average of $16.37 and a two-hundred day moving average of $14.93.

Alignment Healthcare (NASDAQ:ALHC) last announced its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 5.84% and a negative return on equity of 108.69%. The company had revenue of $926.93 million during the quarter, compared to analysts’ expectations of $889.83 million. During the same quarter in the prior year, the company earned ($0.25) EPS. Alignment Healthcare’s revenue was up 47.5% compared to the same quarter last year. On average, analysts expect that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have commented on ALHC. Stifel Nicolaus increased their price target on shares of Alignment Healthcare from $18.00 to $23.00 and gave the company a “buy” rating in a research report on Tuesday, April 8th. JPMorgan Chase & Co. boosted their price target on Alignment Healthcare from $14.00 to $17.00 and gave the company a “neutral” rating in a research note on Thursday, March 6th. Piper Sandler lifted their price objective on shares of Alignment Healthcare from $14.00 to $21.00 and gave the company an “overweight” rating in a research note on Tuesday, March 4th. Robert W. Baird boosted their price objective on Alignment Healthcare from $17.00 to $22.00 and gave the company an “outperform” rating in a report on Tuesday, April 15th. Finally, UBS Group increased their price target on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a report on Friday, May 2nd. One analyst has rated the stock with a sell rating, three have given a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, Alignment Healthcare has an average rating of “Moderate Buy” and an average target price of $17.17.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Barclays PLC raised its position in Alignment Healthcare by 144.1% in the third quarter. Barclays PLC now owns 193,446 shares of the company’s stock valued at $2,287,000 after purchasing an additional 114,191 shares during the period. Allspring Global Investments Holdings LLC boosted its stake in shares of Alignment Healthcare by 1,672.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock valued at $7,591,000 after buying an additional 619,592 shares during the period. Rhumbline Advisers grew its holdings in Alignment Healthcare by 2.2% during the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after acquiring an additional 2,937 shares in the last quarter. New York State Common Retirement Fund increased its holdings in Alignment Healthcare by 173.8% in the fourth quarter. New York State Common Retirement Fund now owns 82,455 shares of the company’s stock valued at $928,000 after buying an additional 52,337 shares during the last quarter. Finally, Proficio Capital Partners LLC acquired a new position in shares of Alignment Healthcare during the 4th quarter worth about $184,000. 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.