Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao Sells 90,000 Shares of Stock

Alignment Healthcare, Inc. (NASDAQ:ALHC) CEO John E. Kao sold 90,000 shares of Alignment Healthcare stock in a transaction on Monday, June 16th. The stock was sold at an average price of $14.48, for a total value of $1,303,200.00. Following the completion of the transaction, the chief executive officer now owns 1,733,100 shares in the company, valued at $25,095,288. The trade was a 4.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link.

Alignment Healthcare Trading Up 0.5%

Shares of ALHC stock opened at $14.57 on Wednesday. The company has a debt-to-equity ratio of 2.95, a current ratio of 1.69 and a quick ratio of 1.69. The business has a 50-day moving average of $16.20 and a 200 day moving average of $14.94. The stock has a market capitalization of $2.88 billion, a PE ratio of -30.35 and a beta of 1.22. Alignment Healthcare, Inc. has a 1-year low of $7.05 and a 1-year high of $21.06.

Alignment Healthcare (NASDAQ:ALHC) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.05) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.12) by $0.07. Alignment Healthcare had a negative net margin of 3.02% and a negative return on equity of 80.49%. The business had revenue of $926.93 million for the quarter, compared to the consensus estimate of $889.83 million. During the same period in the previous year, the firm earned ($0.25) EPS. The company’s quarterly revenue was up 47.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Alignment Healthcare, Inc. will post -0.69 earnings per share for the current year.

Analysts Set New Price Targets

A number of research analysts have weighed in on ALHC shares. UBS Group boosted their target price on shares of Alignment Healthcare from $16.00 to $17.00 and gave the stock a “neutral” rating in a research report on Friday, May 2nd. Stifel Nicolaus lifted their price objective on Alignment Healthcare from $18.00 to $23.00 and gave the stock a “buy” rating in a research note on Tuesday, April 8th. Piper Sandler increased their target price on Alignment Healthcare from $14.00 to $21.00 and gave the stock an “overweight” rating in a research note on Tuesday, March 4th. 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 report on Thursday, March 6th. Finally, Bank of America boosted their target price on Alignment Healthcare from $15.50 to $18.50 and gave the stock a “buy” rating in a report on Tuesday, March 4th. One analyst has rated the stock with a sell rating, three have issued a hold rating, six have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, Alignment Healthcare presently has an average rating of “Moderate Buy” and an average target price of $17.17.

Institutional Trading of Alignment Healthcare

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Allspring Global Investments Holdings LLC grew its holdings in Alignment Healthcare by 1,672.5% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 656,637 shares of the company’s stock worth $7,591,000 after acquiring an additional 619,592 shares in the last quarter. Rhumbline Advisers boosted its holdings in Alignment Healthcare by 2.2% in the 4th quarter. Rhumbline Advisers now owns 135,704 shares of the company’s stock worth $1,527,000 after buying an additional 2,937 shares during the last quarter. New York State Common Retirement Fund raised its holdings in Alignment Healthcare by 173.8% in the 4th quarter. New York State Common Retirement Fund now owns 82,455 shares of the company’s stock valued at $928,000 after acquiring an additional 52,337 shares during the last quarter. Proficio Capital Partners LLC acquired a new stake in shares of Alignment Healthcare in the fourth quarter valued at approximately $184,000. Finally, US Bancorp DE lifted its holdings in Alignment Healthcare by 6,544.2% in the fourth quarter. US Bancorp DE now owns 98,932 shares of the company’s stock valued at $1,113,000 after acquiring an additional 97,443 shares during the last quarter. 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.